Alameda County Employees' Retirement Association, Oakland, Calif., approved two new alternative investment commitments totaling up to $88 million.
The $10.7 billion pension fund's board approved commitments of up to $50 million to middle-market buyout fund Gridiron Capital Fund V and up to $38 million to Davidson Kempner Opportunities Fund VI, a distressed debt fund managed by Davidson Kempner Capital Management at its meeting May 18, spokesman Michael Fara said in an email.
Both are new managers for the pension fund.
As of March 31, the actual allocation to private equity was 9.4%; the target is 11%.
