San Diego City Employees' Retirement System's board Wednesday committed $50 million to the TCW TALF Opportunities Fund, said Elizabeth Crisafi, CIO of the $8.1 billion pension plan, in an email.
SDCERS invested in the initial TALF program, created in the wake of the global financial crisis in September 2009, through TCW. The investment produced a net return of 12.3%, according to a staff report to the board. The current version of the TALF program, known as TALF 2.0, is functionally similar to the original TALF program, the staff report said.
SDCERS made the commitment from its roughly $587.7 million opportunity fund portfolio. The pension plan's general investment consultant Aon assisted.