Sacramento County (Calif.) Employees’ Retirement System disclosed private credit and real estate commitments totaling $100 million.
The $14.1 billion pension fund disclosed commitments of $50 million each to OrbiMed Royalty & Credit Opportunities V, a private credit fund that invests in healthcare royalty rights managed by OrbiMed Advisors, and Sculptor Real Estate Fund V, an opportunistic real estate fund managed by Sculptor Capital Management, in a monthly investment activity report posted on its website.
The pension fund previously committed $40 million to OrbiMed Royalty & Credit Opportunities IV in 2022 and $30 million to Sculptor Real Estate Fund IV in 2020.
As of Sept. 30, the pension fund’s actual allocations to real estate and private credit were 8.8% and 5.1%, respectively; their respective targets are 9% and 5%.