San Diego City Employees’ Retirement System committed $50 million to Antares Senior Loan Fund III.
The $11.9 billion pension fund’s investment committee approved the commitment to the direct lending fund managed by Antares Capital at its March 13 meeting, a webcast of the meeting showed.
It is SDCERS’ first commitment to an Antares Capital fund.
As of Dec. 31, the pension fund’s actual allocation to private debt was 2%; its long-term target is 5%.
Investment consultant Aon Investments USA assisted.
