Sacramento County (Calif.) Employees’ Retirement System announced a total of $100 million in a private credit commitment and hedge fund investment.
The $14 billion pension fund committed $50 million to Ares Capital Europe Fund VI, a direct lending fund managed by Ares Management, in October and invested $50 million in Hudson Bay Fund, a multistrategy hedge fund managed by Hudson Bay Capital Management, in November, according to an investment activity report on its website.
SCERS previously committed $50 million to Ares Senior Direct Lending Fund III in 2023. Hudson Bay Capital is a new manager for the pension fund.
As of Sept. 30, the pension fund’s actual allocations to absolute return and private credit were 7% and 5.1%, respectively; their respective targets are 7% and 5%.
