# San Mateo County Employees' Retirement Association

San Mateo County Employees' Retirement Association is a Pension Fund based in Redwood City, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Redwood City, United States
- **Region:** North America
- **Address:** 100 Marine Parkway, Suite 125, Redwood City, CA, United States
- **Founded:** 1944
- **Assets under management:** 7100 (Altss estimate)
- **Website:** samcera.gov
- **LinkedIn:** https://www.linkedin.com/company/samcera

## Regulatory record

- **Reports private funds:** No

## About

San Mateo County Employees' Retirement Association was established in 1944. It provides pension benefits to county employees and one special district under California statute. Paul Okada leads the organization as CEO after prior service as legal counsel. The plan deploys capital across multiple asset classes. Confirmed holdings include Invesco Core Real Estate Fund, Harrison Street Core Property Fund, and PGIM Real Estate US Debt Fund in real estate. Private equity and infrastructure commitments encompass ABRY Partners VII, Summit Partners Growth Equity Fund XII, Clayton Dubilier & Rice Fund XI, Brookfield Super-Core Infrastructure Fund, and LS Power Equity Partners V. Hedge fund and credit exposures include Farallon Capital and White Oak Yield Spectrum Fund V. Allocations span the United States and global markets. Total fund assets reached $7.1 billion. The organization maintains a single headquarters in Redwood City. It engages Meketa Investment Group as general investment consultant, Northern Trust as custodian, and Milliman as actuary. In November 2024 the plan attended the SACRS Fall Conference in Monterey. Board leadership includes Kimathi Marangu as chair. The plan functions as a statutory public pension system with an elected and appointed board of retirement. Investment decisions follow California law and board policy rather than a single-family mandate. This structure separates benefit administration from investment execution through external managers and consultants.

## Sectors

- Real Estate
- Private Equity
- Infrastructure
- Hedge Funds
- Private Credit

## People

- Paul Okada — Chief Executive Officer
- Michael Coultrip — Chief Investment Officer
- Kimathi Marangu — Board Chair

## Questions

### Who runs investment decisions at San Mateo County Employees' Retirement Association?

Michael Coultrip serves as Chief Investment Officer. The board of retirement sets policy. External managers including Baillie Gifford, BlackRock, and Farallon Capital execute public and absolute return mandates.

### Does San Mateo County Employees' Retirement Association participate in fund commitments or only direct deals?

The plan commits as a limited partner to commingled funds. Holdings include ABRY Partners VII, Brookfield Super-Core Infrastructure Fund, and White Oak Yield Spectrum Fund V.

### What asset classes does San Mateo County Employees' Retirement Association target?

Allocations cover real estate, private equity, infrastructure, hedge funds, and private credit. Real assets include agriculture and energy exposure.

### Where does San Mateo County Employees' Retirement Association maintain its headquarters?

The plan is headquartered at 100 Marine Parkway, Suite 125, Redwood City, California.

### Which service providers support San Mateo County Employees' Retirement Association operations?

Meketa Investment Group acts as general investment consultant. Northern Trust serves as custodian. Milliman provides actuarial services and Brown Armstrong performs audits.

### How is San Mateo County Employees' Retirement Association governed?

An independent public agency board oversees the plan. Kimathi Marangu chairs the board. Operations follow California state law for county retirement systems.

### What professional networks does San Mateo County Employees' Retirement Association belong to?

The plan is a member of the State Association of County Retirement Systems. Board Chair Kimathi Marangu holds membership in the Council on Foreign Relations.

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- [Atrium Health](https://altss.com/profile/atrium-health)
- [Matmut](https://altss.com/profile/matmut)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/san-mateo-county-employees-retirement-association

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