Searches and Hires

Merced County Employees commits $21 million to alternatives

Merced County (Calif.) Employees' Retirement Association made three new commitments totaling $21 million, said Kristen Santos, retirement plan administrator, in an email.

The $778 million pension fund committed $8 million each to buyout fund Genstar Capital Partners IX and growth equity fund Summit Partners Growth Equity Fund X, and $5 million to Rockpoint Real Estate Fund VI, a value-added real estate fund managed by Rockpoint Group.

As of Dec. 31, the pension fund's actual allocations to private real estate and private equity were 7.8% and 4.9%, respectively.