Ventura County (Calif.) Employees’ Retirement Association approved two follow-on commitments to private credit funds totaling $50 million.
The $8.5 billion pension fund’s board at its April 28 meeting approved follow-on commitments of $25 million each to Arbour Lane Credit Opportunity Fund IV, a credit special situations fund managed by Arbour Lane Capital Management, and VWH Master Fund IV, a private credit fund managed by VWH Capital Management, a webcast of the meeting showed.
VCERA originally committed $50 million to the Arbour Lane fund in September and $25 million to the VWH Capital fund in January.
As of March 31, the pension fund’s actual allocation to private credit was 8.2%; the target is 10%.
Investment consultant NEPC assisted.
