San Joaquin County Employees' Retirement Association, Stockton, Calif., committed $63 million to Silver Rock Tactical Allocation Fund Vintage 2022.
The $3.8 billion pension fund's board approved the commitment to the private credit fund managed by Silver Rock Financial in closed session at its Dec. 9 meeting, confirmed CEO Johanna Shick in an email.
It is the pension fund's first commitment to a Silver Rock fund, Ms. Shick said. SJCERA disclosed the closed session approval in April 14 board meeting materials.
The pension fund allocates private credit commitments within its stabilized growth asset class, Ms. Shick said.
As of Dec. 31, the actual allocation to stabilized growth was 31.5%; the target is 33%.