San Francisco City & County Employees' Retirement System committed $25 million to PAG Special Situations Fund 3.2, according to an investment report from CIO William J. Coaker Jr. for its upcoming board meeting Wednesday.
The $28.4 billion pension fund's commitment to the distressed/special situations fund managed by PAG closed on Aug. 13, according to the report.
SFERS has made multiple commitments to PAG funds, most recently committing $100 million to PAG Loan Fund IV in 2019.
As of Aug. 31, the actual allocation to private credit was 4.5%.
