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Los Angeles County Employees Retirement commits $100 million to distressed debt fund

Los Angeles County Employees Retirement Association, Pasadena, committed up to $100 million to Glendon Opportunities Fund II, according to the minutes of a recent board of investment's meeting for the $47.6 billion pension fund.

The commitment was approved in closed session of the May 10 meeting.

Glendon Opportunities Fund II is a private equity fund that will pursue a distressed debt strategy and is managed by Glendon Capital Management. LACERA has invested with the firm in the past.