Merced County (Calif.) Employees' Retirement Association made three new commitments totaling $24 million.
The $896 million pension fund committed $8 million each to Starwood Global Opportunity Fund XII, an opportunistic real estate fund managed by Starwood Capital Group; Taconic Commercial Real Estate Dislocation Fund III, an opportunistic credit fund managed by Taconic Capital Advisors; and TCV XI, a private equity fund that focuses on technology firms managed by Technology Crossover Ventures, said Kristen Santos, retirement administrator, in an email.
As of May 31, the pension fund's actual allocations to private real estate, private equity and opportunistic credit were 6.7%, 5.3% and 4.9%, respectively.
