The Merced County Employees’ Retirement Association has committed $16 million to three private equity funds.
$8 million was allocated to Summit Partners Europe Equity IV, a growth equity fund managed by Summit Partners.
The other $8 million was allocated between two venture capital funds managed by Khosla Ventures. $6 million was allocated to Khosla Ventures VIII and $2 million was allocated to Khosla Venture Seed F.
As of December 31, 2022, the pension fund allocates 13.8% to Private Equity while they target 15% to the asset class.
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