Contra Costa County Employees’ Retirement Association’s investment staff has recommended committing $75 million to Angelo Gordon Energy Credit Opportunities Fund, managed by Angelo Gordon & Co., said a memo to the Concord, Calif.-based pension fund’s board from Timothy Price, chief investment officer.
The $6.5 billion pension fund’s board is scheduled to vote on the recommendation at its meeting on Friday.
Staff is also asking for the ability to increase the commitment to $125 million at its discretion. The fund can invest in three strategies as it seeks opportunities: non-investment grade credit, distressed debt and direct lending in the energy industry.
The pension fund previously committed $65 million to AG Realty Fund IX in October.
Mr. Price was not available to provide further information by press time.
