Fresno County (Calif.) Employees’ Retirement System committed $40 million to OHA Strategic Credit Fund II, said Donald Kendig, retirement administrator, in an e-mail.
The distressed debt fund is managed by Oak Hill Advisors.
The pension fund has an 8% private credit target and current allocation of about 1.7%.
Separately, the $4 billion pension fund is conducting a search for an actuary as a due diligence measure.
Incumbent actuary Segal Consulting is invited to rebid.
The RFP is available on the pension fund’s website. Proposals are due by 5 p.m. PDT on Sept. 21. Finalist presentations are tentatively scheduled for Nov. 2, with a hiring decision expected by Dec. 7.