San Mateo County Employees' Retirement Association, Redwood City, Calif., invested $75 million in two hedge funds, committed $30 million to a private equity fund and made a follow-on commitment of $35 million to a private equity fund already in the plan's portfolio, an announcement on the $4.4 billion pension fund's website said.
At its Sept. 29 meeting, the board agreed to invest $45 million in Acadian Asset Management's Multi-Asset Absolute Return Strategy and $30 million in CFM Systematic Global Macro strategy, managed by Capital Fund Management.
The board also agreed to commit $30 million to Clayton, Dubilier & Rice Fund XI, a buyout fund.
Finally, the retirement association made a re-up commitment of $35 million to White Oak Yield Spectrum Fund V, a direct lending fund managed by White Oak Global Advisors. The plan had $33 million with the White Oak Yield fund as of June 30.