Firms & Funds

Alameda County commits $33 mln to Altas Partners

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Alameda County Employees’ Retirement Association, Genstar Capital Partners, private equity, venture capital, pension fund, California
An aerial view of downtown Oakland, California, on Oct. 5, 2017. Reuters/Stephen Lam
  • AUM: $8.1 bln
  • PE Target: 9 pct
  • PE Actual: 6.3 pct
  • Contact: Betsy Tse, chief investment officer, at allinvestments@acera.org

Alameda County Employees’ Retirement Association recommended backing Altas Partners second long-life fund that is targeting $2.5 billion, according to minutes from its June 12 meeting.

The system’s board is considering a $33 million commitment to Altas Partners Holding II. The company focuses on” high-quality businesses” that have good cash flow and “minimal risk of obsolescence,” according to its website.

Altas Partners makes investments between $250 million to $1 billion and can hold investments longer than the three-to-five years that’s common for private funds, according to Buyouts.

Last month, ACERA approved a $60 million commitment to Great Hill Equity Partners’ seventh fund which targets the business and consumer services, healthcare, media, communications and software sectors.

According to a recommendation by investment firm Verus Advisory, Alameda County must make $400 million in additional private equity commitments by 2022 to reach its 9 percent target allocation, Buyouts reported last year.