Merced County (Calif.) Employees' Retirement Association committed up to $8 million to Marlin Heritage Fund III.
The $1.1 billion pension fund's board approved the commitment to the middle-market buyout fund managed by Marlin Management Co. at its meeting Thursday, said Kristen Santos, retirement plan administrator.
The pension fund previously committed €7 million ($8 million) to Marlin Heritage Europe Fund II in 2020.
As of June 30, the pension fund's actual allocation to private equity was 7.3%; the target is 15%.
