Merced County ERA Commits to Private Equity, Venture Capital
Written by: Jane Bailey, Marketing Associate
According to meeting materials from the December 14, 2023 board meeting, the Merced County Employees’ Retirement Association has approved three commitments totalling $17 million to private equity and venture capital.
In private equity, $8 million was allocated to Carnelian Energy Fund V.
A combined $9 million was committed to Spark Capital VIII and Spark Capital Growth V, private equity partnerships focused on venture capital investments in the internet and technology sectors. $3 million was allocated to Spark Capital VIII and $9 million was allocated to Spark Capital Growth V. The commitments must be made simultaneously to both funds.
Private markets consultant, Cliffwater, assisted with these recommendations.
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