San Mateo County Employees' Retirement Association, Redwood City, Calif., committed a total of $60 million to two alternatives funds at its June 4 board meeting, according to a notice on the pension fund’s website.
Specifically, the board approved a $35 million commitment to Beach Point Capital Real Estate Debt Fund, managed by Beach Point Capital Management, as part of SamCERA’s debt portfolio within real estate under the inflation-hedge category.
The board also approved a $25 million commitment to Quantum Energy Partners VIII, managed by Quantum Capital Group, as part of SamCERA’s natural resources portfolio within private real assets under the inflation-hedge category.
SamCERA previously invested $46 million in hedge fund Beach Point Select Fund in 2017. SamCERA also previously committed $20 million to Quantum Energy Partners VII in 2017.
As of April 30, SamCERA had about $6.4 billion in assets, according to the information packet included for the June 4 board meeting. As of that date, inflation-hedge assets accounted for about 15.9% of the portfolio (target 17.5%).
