Ann Arbor (Mich.) City Employees' Retirement System committed $9 million to Summit Partners Credit Fund III, said recently released board meeting minutes.
The $518 million pension fund's board approved the commitment to the middle-market credit fund at its Oct. 18 meeting.
The pension fund previously committed $9 million to Summit Partners Credit Fund II.
As of Sept. 30, the pension fund's actual allocation to high-yield bonds was 5.3%.
Wendy Orcutt, executive director, could not immediately be reached for further information.
