Searches and Hires

Seattle City Employees’ investment committee recommends direct lending commitment

Seattle City Employees' Retirement System's investment committee recommended committing up to $35 million to BlueBay Direct Lending Fund III, managed by BlueBay Asset Management, said Nina Melencio, office administrator, in an email.

The $2.6 billion pension fund previously committed $24 million to BlueBay Direct Lending Fund II in 2015.

The pension fund's board of administration will vote to approve the recommendation at its Feb. 8 meeting.

As of Sept. 30, the pension fund's actual allocation to credit fixed income was 6.9%; the target is 7%.