San Mateo County Employees' Retirement Association, Redwood City, Calif., approved a $60 million commitment to Diameter Dislocation Fund III, a distressed debt fund managed by Diameter Capital Partners, as part of SamCERA’s opportunistic credit portfolio within its growth category.
The board approved the commitment at its meeting April 22, according to a recent notice on the pension fund’s website.
As of March 31, the $6.9 billion pension fund had an actual allocation of 11.1% to opportunistic credit, with an 11% target.
Officials at SamCERA could not be immediately reached for further details.
