Missouri Local Government Employees Retirement System, Jefferson City, has made four recent commitments totaling about $210 million.
These commitments were announced at LAGERS' June 16 board meeting, deputy CIO Megan Loehner confirmed by email.
Specifically, the $10.2 billion LAGERS committed €65 million ($70 million) to Alchemy Special Opportunities Fund V; $50 million to Star Mountain Strategic Credit Income Fund V; $50 million to Global Infrastructure Partners Fund V; and $40 million to Soryn Intellectual Property Fund I.
According to PitchBook, Alchemy Special Opportunities Fund V is a distressed debt fund managed by London-based Alchemy Partners.
Ms. Loehner said Star Mountain Strategic Credit Income Fund V is a private U.S. credit fund managed by Star Mountain Capital; Global Infrastructure Partners Fund V is a private global infrastructure fund managed by Global Infrastructure Partners; and Soryn Intellectual Property Fund I is an intellectual property fund managed by Soryn IP Capital Management.
LAGERS had previously committed $65 million to Star Mountain Strategic Credit Income Fund IV in June 2022 and committed $100 million to Global Infrastructure Partners Fund IV in March 2019.
LAGERS also had committed $60 million to Alchemy Special Opportunities Fund IV in December 2017.
At the latest board meeting, LAGERS has also engaged Copeland Capital Management for an international small cap equity mandate of approximately $145 million. Ms Loenher said that Copeland is replacing ClearBridge Investments as the manager of the international small cap mandate. ClearBridge managed the portfolio since 2014, she added.
Franklin Templeton, ClearBridge's parent, could not be immediately reached for comment.