Oklahoma Police Pension & Retirement System, Oklahoma City, committed $7.5 million each to Oaktree Opportunities Fund IX and Arsenal Capital Partners III, confirmed Steve Snyder, executive director and chief investment officer of the $1.8 billion retirement system.
This is the ninth Oaktree fund in which the retirement system has invested, with previous commitments ranging from $3 million to $10 million. It also committed $15 million each to the first two series of Arsenal funds, Mr. Snyder said in a telephone interview.
Asset Consulting Group assisted.
The Oaktree fund focuses on distressed debt, and the Arsenal offering is a buyout fund.
The retirement system has a 12.8% allocation to private equity, but the target allocation is about 10%. “Private equity has kept us in relatively good stead in our down times,” Mr. Snyder said.