Alameda County Employees’ Retirement Association, Oakland, Calif., is committing up to $25 million to ABRY Senior Equity V, a mezzanine debt fund managed by ABRY Partners.
The commitment was made at the $6.6 billion pension fund’s investment committee meeting Dec 14, show minutes of the meeting. Investment staff made the commitment using its delegated authority, the minutes said.
The hiring was recommended by ACERA’s general investment consultant, Verus Advisory, according to the minutes.
The investment staff also reported at the meeting that it has been working with Verus on developing a proposed timeline, minimum qualifications and evaluation guidelines for an emerging markets equity RFP.
The staff will formally submit a plan for issuing the RFP at the next investment committee meeting scheduled for Jan. 11.
Officials of the pension fund were not immediately available for additional comment.