Alameda County Employees' Retirement Association, Oakland, Calif., committed up to $50 million to Clayton, Dubilier & Rice Fund XII.
The $10.5 billion pension fund's board approved the commitment to the buyout fund at its March 16 meeting, spokesman Michael Fara said in an email.
ACERA previously committed up to $35 million to Clayton, Dubilier & Rice Fund XI in 2020.
As of Feb. 28, the pension fund's actual allocation to private equity was 9.5%; the target is 11%.
