Louisiana School Employees’ Retirement System, Baton Rouge, committed $25 million to BPC Opportunities Fund V.
The $2.2 billion pension fund’s board approved the commitment to the distressed debt fund managed by Beach Point Capital Management at its Dec. 9 meeting, recently released meeting minutes show.
LSERS previously committed $50 million to BPC Opportunities Fund IV in 2021.
As of June 30, the pension fund’s actual allocation to opportunistic fixed income was 25.9%; the target is 20%.
Investment consultant Segal Marco Advisors assisted.
