Houston Municipal Employees Pension System committed a total of $45 million to three Oaktree Capital Management funds, said spokesman Peter Koops in an e-mail.
The $2.5 billion pension fund committed $17.5 million and $7.5 million, respectively, to distressed debt funds Oaktree Opportunities Fund Xb and Oaktree Opportunities Fund X. It also committed $20 million to Oaktree Power Opportunities Fund IV, an energy-focused buyout fund.
The pension fund has a 17.5% target allocation to private equity.