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CCCERA commits $50m to energy fund

by Zoë Wolff

The $6.5 billion Contra Costa County (Calif.) Employees’ Retirement Association has committed $50 million to Ares Energy Investors Fund V, according to board meeting documents.

The fund, managed by Ares Management, is an energy infrastructure fund that invests in power generation, power transmission and midstream assets in the United States. The fund is targeting a net IRR of 15 percent to 17 percent.

CCCERA has made commitments to the previous four funds in the series since 2002, then known as U.S. Power Funds.

 

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