Houston Municipal Employees Pension System committed a total of $85 million to eight alternatives managers, according to minutes of recent board meetings.
The board of the $2.1 billion system in April approved commitments of $25 million each to venture capital fund New Enterprise Associates 14 and Oaktree Opportunities Fund IX, a distressed debt fund; and $5 million each to hedge funds managers Gracie Credit Opportunities Fund and Mason Capital.
In March, the board approved $5 million commitments to hedge funds Samlyn Onshore Fund and Brigade Leveraged Capital Structures Fund, and Claren Road Credit Partners, a long/short credit fund.
The board in February approved a commitment of up to $10 million to Riverstone Global Energy and Power Fund V. It also approved a three-year extension with Cliffwater as alternatives consultant with two optional one-year extensions.
Rhonda Smith, executive director, did not return telephone calls for additional information.