Searches and Hires

Sacramento County Employees commits $73 million to 2 alternatives funds

Sacramento County (Calif.) Employees' Retirement System made commitments totaling $73 million, confirmed Steve Davis, chief investment officer for the $9.6 billion pension fund.

The retirement system committed $40 million to Paine Schwartz Food Chain Fund V, a private equity fund managed by Paine Schwartz Partners that specializes in sustainable food chain investing; and $33 million to Accel-KKR Growth Capital Partners III, a growth-oriented technology buyout fund.

The pension fund has committed to previous Accel-KKR funds, but the relationship with Paine Schwartz is new, Mr. Davis said.

The pension fund's actual allocation to private equity was 9.2% as of June 30; its target is 9%.