ACERA approves $75m commitment

The US public pension has backed a senior debt vehicle.

Institution: Alameda County Employees’ Retirement Association
Headquarters: Oakland, United States
AUM: $8.2 billion
Allocation to alternatives: 19.58%

Alameda County Employees’ Retirement Association has approved a $75 million commitment to BlackRock Direct Lending Fund IX, according to the pension’s September 2020 investment committee meeting minutes.

As illustrated below, ACERA’s private debt commitments have been to North American vehicles targeting the corporate sector. The $8.2 billion US public pension has a 4 percent target allocation to private debt that currently stands at 0.43 percent.

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