San Antonio Fire & Police Pension Fund made a commitment of $25 million to Ocean Avenue Fund V, a private equity fund of funds managed by Ocean Avenue Capital Partners, recently released board meeting minutes show.
The $4 billion pension plan previously committed to Ocean Avenue Fund IV in 2019.
The board made the current commitment at the recommendation of the investment committee and its investment consultant, NEPC.
The board also selected 400 Capital Asset Based Term Fund III managed by 400 Capital Management, Callodine Asset Based Loan Fund II managed by Callodine Group, and Blue Ocean Onshore Fund II managed by EnTrust Global as finalists for its private debt search. The board is looking to commit at least $25 million to one manager for this search. A timeline for selecting a fund was not disclosed.
Cary Hally, chief investment officer, could not immediately be reached for further information.