San Mateo County Employees' Retirement Association, Redwood City, Calif., committed a total of $35 million to two alternatives funds and made a follow-on commitment to a direct lending fund, said an announcement on the $4.4 billion pension fund's website.
At its Dec. 8 meeting, the board approved a $20 commitment to Endeavour Capital Fund VIII, a lower middle-market private equity fund. It also agreed to commit $15 million to Canvas Venture Partners 3, a venture capital fund managed by Canvas Ventures.
The board also approved a follow-on commitment of $10 million to BlackRock Direct Lending Fund IX, a middle-market fund. The pension fund had $5 million in a BlackRock connected feeder fund as of Sept. 30, according to a report from the pension fund's investment consultant, Verus Advisory.