Santa Barbara County (Calif.) Employees' Retirement System committed $20 million to Deerpath Capital VI.
The $3.8 billion pension fund's board approved the commitment to the lower middle-market, senior direct lending fund managed by Deerpath Capital Management at its meeting Wednesday, said Lauren Thompson, assistant CEO, investments and finance.
SBCERS previously committed $20 million to Deerpath Capital V in 2020.
As of May 31, the pension fund's actual allocation to non-core fixed income was 9.4%.
Investment consultant RVK assisted.