San Mateo County Employees moves $65 million to alternatives

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San Mateo County Employees’ Retirement Association, Redwood City, Calif., made commitments totaling $65 million, according to a summary of the pension fund’s June 4 board meeting.The $4.3 billion pension fund committed $35 million to BlackRock (BLK) Direct Lending Fund IX. The commitment falls within the pension fund’s opportunistic credit portfolio in fixed income, the summary said.As of Dec. 31, the actual allocation to fixed income was 18.5%.Related CoverageSan Mateo County allocates $70 million to 2 funds San Mateo County assigns $25 million to natural resources fund San Mateo selects Acadian, PanAgora for low-volatility equityThe pension fund also committed $20 million to Great Hill Equity Partners VII, a buyout fund managed by Great Hill Partners, and $10 million to North American buyout fund Altas Partners Holdings II. The pension fund committed $20 million to Great Hill Equity Partners VI in 2016.As of Dec. 31, the actual allocation to private equity was 6.8%.Michael Coultrip, chief investment officer, could not be immediately reached to provide further information. Investing/portfolio strategies, Fixed income, Private equity, Public pensions,