San Mateo County Employees' Retirement Association, Redwood City, Calif., approved $80 million in commitments to alternative investment funds.
The board of the $6.5 billion pension fund approved the commitments at its meeting Aug. 27, according to a notice on the pension fund’s website.
The board approved a $60 million commitment to GoldenTree Asset Management Master Fund Select Strategy, as part of SamCERA’s opportunistic credit portfolio within the growth category.
The board also approved a $20 million commitment to Summit Partners Growth Equity Fund XII, private equity growth and expansion fund. The commitment is part of SamCERA’s venture capital portfolio within private equity under the growth category.
The pension fund previously committed $10 million to Summit Partners Growth Equity Fund XI in August 2021.
As of June 30, SamCERA had an actual allocation of 10.5% to opportunistic credit (11% target), and a 6.8% to private equity (7% target).
