Pennsylvania State Employees' Retirement System, Harrisburg, committed up to $50 million each to special situations funds LBC Credit Partners III and Oaktree Opportunities Fund IX, confirmed Pamela Hile, spokeswoman.
They are the first commitments under the $25 billion retirement system's 2012-2013 strategic investment plan and are part of its new $500 million annual limit on commitments to alternative investments.
This is the first commitment for the system to an LBC Credit Partners fund. The system has made 11 previous commitments totaling $379 million to Oaktree Capital Management funds since 1995.
Alternatives consultant StepStone Group assisted.
