ACERA approves $80m commitment

The US public pension has backed a North American senior debt fund.

Institution: Alameda County Employees’ Retirement Association (ACERA)
Headquarters: Oakland, United States
AUM: $8.38bn
Allocation to alternatives: 20.98%
Bitesize: $10-50m

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.

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