San Mateo County Employees' Retirement Association, Redwood City, Calif., approved a $40 million commitment to 400 Capital Asset Based Term Fund IV, as part of SamCERA’s opportunistic credit portfolio within the growth category.
The board of the $6.7 billion pension fund approved the commitment to the credit special situations fund managed by 400 Capital Management at its meeting Jan. 28, according to a notice on the pension fund’s website.
As of Dec. 31, the pension fund had an actual allocation of 11% to opportunistic credit (11% target), according to informational materials issued for the board meeting.
SamCERA officials could not be immediately reached for further details.
