The Merced County (Calif.) Employees’ Retirement Association (MCERA) has committed $5 million to the Tailwater Energy Fund IV.
The fourth United States–based energy infrastructure fund managed by Tailwater Capital was launched earlier this month.
The previous fund in the series, Tailwater Energy Fund III, invested across the midstream value chain, raising $1 billion in capital at its final close, which took place in July 2018.
As of May, MCERA had $829 million in assets under management, with approximately $15 million dedicated to infrastructure, as of June 2018.
