ACERA approves $60m commitment

The Oakland-based public pension has backed GHP's eighth private equity vehicle.

Institution: Alameda County Employees’ Retirement Association (ACERA)
Headquarters: Oakland, US
AUM: $11.83 billion
Allocation to alternatives: 21.64%

Alameda County Employees’ Retirement Association (ACERA) has approved a $60 million commitment to Great Hill Equity Partners VIII, according to materials from its January 2022 investment committee meeting.

Great Hill Partners launched its eight-series private equity vehicle in September 2021 with a $3.5 billion target size. It has a current fund size of $4.65 billion. GHP is raising its eighth buyout fund to invest in diversified sectors.

ACERA currently allocates $939.3 million to private equity investments, comprising 7.94 percent of its total investment portfolio. The public pension has a target allocation to private equity of 11 percent.

As illustrated below, ACERA’s recent private equity commitments have focused on growth, mezzanine and buyout vehicles globally in multiple sectors.

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