Institution: Alameda County Employees’ Retirement Association (ACERA)
Headquarters: Oakland, United States
Allocation to alternatives: 20.98%
Alameda County Employees’ Retirement Association committed $80 million to Owl Rock First Lien Fund. The senior debt fund has raised $1.12 billion and will invest across multiple sectors throughout North America.
The $8.38 billion US public pension has a 4 percent target allocation to private debt, meeting its 4 percent target.
As illustrated in the charts below, ACERA allocates 20.98 percent to alternative assets. The pension has a strong appetite for North American and European corporate debt funds.