Searches and Hires

San Mateo County earmarks $20 million for leveraged debt fund

San Mateo County Employees' Retirement Association, Redwood City, Calif., committed $20 million to ABRY Advanced Securities Fund IV, a leveraged debt fund focused on middle-market communications and business services company and managed by ABRY Partners.

The $4.3 billion pension fund's board approved the commitment at its meeting on Tuesday, according to a posting on its website. The commitment falls within the pension fund's private equity asset class. As of March 31, the actual allocation to private equity was 5.9%; the target is 7%.

Previously, the pension fund committed up to $10 million to ABRY Senior Equity V in 2016 and $22.5 million to ABRY Advanced Securities Fund III in 2014.

Michael Coultrip, chief investment officer, could not be immediately reached for further information.