The Tulare County Employees’ Retirement Association (TCERA) provides retirement benefits to employees of Tulare County, California. With approximately $3.5 billion in total assets, TCERA operates under California’s 1937 County Employees Retirement Law.
Investment Strategy
TCERA maintains a diversified portfolio across public equities, fixed income, and alternatives. The alternatives program includes private equity and real estate investments through commingled funds. The fund emphasizes manager quality and takes a focused approach to alternatives given its scale.
How to Approach
Fund managers should contact TCERA in Visalia or engage through their consultant. TCERA evaluates managers on track record, fee structure, and operational quality. The fund prefers managers who can accommodate smaller commitment sizes.
Frequently Asked Questions
What is TCERA's alternatives allocation?
TCERA allocates approximately 12% of its $3.5 billion portfolio to alternatives including private equity and real estate. The fund takes a focused approach to alternatives given its scale.
How does TCERA invest in alternatives?
TCERA invests in private equity and real estate through commingled funds with established managers. Commitment sizes are typically in the $10 million to $25 million range.
How can GPs approach TCERA?
GPs should contact TCERA in Visalia or their investment consultant. The fund evaluates managers on performance, team quality, and fee structure. The Board of Retirement approves all new commitments.
