---
title: Merced County Employees Commits $23M to Alts
description: Merced County Employees Commits $23M to Alts.
image: https://dakotafunds.com/hubfs/Imported_Blog_Media/san_francisco_pensions-Dec-07-2021-03-27-21-90-AM-Apr-04-2024-11-21-44-8866-PM.jpg
---

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# Merced County Employees Commits $23M to Alts

**Written by: ** John Washington, Data Research Analyst 

![](https://dakotafunds.com/hubfs/Imported_Blog_Media/san_francisco_pensions-Dec-07-2021-03-27-21-90-AM-Apr-04-2024-11-21-44-8866-PM.jpg)

The Merced County Employees’ Retirement Association has committed $23 million to two alternative funds, according to meeting minutes from the March 23 board meeting.

Up to $8 million was committed to energy private equity fund, EnCap Energy Capital Fund XII, managed by EnCap Investments.

Up to $15 million was committed to multi-strategy hedge fund, Hudson Bay Capital L.P.

As of February 28, 2023, the $1.1 billion pension fund allocates 13.7% to private equity and 10.15% to hedge funds. They have target allocations of 15% and 10% to the respective asset classes.

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 Tags: [Pension Funds](https://dakotafunds.com/dakota-funds/tag/pension-funds), [Alternative Insights](https://dakotafunds.com/dakota-funds/tag/alternative-insights), [Private Equity](https://dakotafunds.com/dakota-funds/tag/private-equity), [Hedge Funds](https://dakotafunds.com/dakota-funds/tag/hedge-funds)

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