Louisiana State Employees' Retirement System, Baton Rouge, approved $225 million total in distressed debt/special situations commitments, said Robert W. Beale, chief investment officer, in an e-mail.
The $9.9 billion pension fund committed $125 million to Cerberus Institutional Partners VI, managed by Cerberus Capital Management; $50 million to Gamut Investment Fund I, managed by Gamut Capital Management; and $50 million to OHA Strategic Credit Fund II, managed by Oak Hill Advisors.
The pension fund has a 14% private equity target.
