Fresno County (Calif.) Employees' Retirement Association committed a total of $60 million to two managers, pending legal review, said Donald Kendig, retirement administrator, in an e-mail.
The $3.9 billion fund committed $30 million each to GSO European Senior Debt Fund, managed by GSO Capital Partners and CVI Credit Value Fund III, managed by CarVal Investors.
The commitments will fall under the pension fund's private credit allocation, which has an 8% target.
Separately, the pension fund is considering Wellington Management and Invesco for a roughly $120 million active commodities mandate. The pension fund has about $132.7 million invested in a passive BlackRock commodities strategy and is looking to move toward active management.
A hiring decision could be made on Feb. 4.
Mr. Kendig could not provide information on whether BlackRock's mandate would be reduced or terminated.
