Baltimore City Fire & Police Employees' Retirement System made two new commitments totaling $40 million.
The $2.6 billion pension fund committed $20 million each to CVI Credit Value Fund V, a distressed/opportunistic debt fund managed by CarVal Investors, and Vista Credit Partners Fund III, a private credit/special situations fund managed by Vista Equity Partners, spokeswoman Amy Baskerville said in an email.
As of June 30, the actual allocation to private debt was 1.7%; the target is 4%.
Investment consultant NEPC assisted.
