Merced County (Calif.) Employees' Retirement Association committed $5 million to Tailwater Energy Fund IV, Kristen Santos, retirement plan administrator, said in an email.
The $829 million pension fund's board approved the commitment to the midstream energy infrastructure fund managed by Tailwater Capital at its June 27 meeting. It is the pension fund's first commitment to Tailwater.
As of May 31, the pension fund's actual allocation to real assets was 5.7%; the target is 5%.
