Stanislaus County Employees’ Retirement Association, Modesto, Calif., committed $20 million to Clayton, Dubilier & Rice XI.
The $2.3 billion pension fund closed the commitment to the buyout fund on Oct. 15, said Stan Conwell, retirement investment officer. It is StanCERA's first commitment to a fund managed by Clayton, Dubilier & Rice, he said.
As of Sept. 30, the actual allocation to private equity was 6.8%; the target is 6%.
