Seattle City Employees’ Retirement System approved two new commitments totaling up to $60 million.
The $4.2 billion pension fund’s board approved commitments of up to $40 million to Arcmont Direct Lending Fund V, a direct lending fund managed by Arcmont Asset Management, and up to $20 million to Sculptor Real Estate Fund V, an opportunistic real estate fund managed by Sculptor Capital Management, at its Oct. 10 meeting, said Jason Malinowski, chief investment officer.
SCERS previously committed up to $40 million to Arcmont Direct Lending Fund IV in 2022 and up to $18 million to Sculptor Real Estate Fund IV in 2020.
As of June 30, the pension fund’s actual allocations to real estate and credit fixed income were 10.2% and 7.1%, respectively; their respective targets are 12% and 7%.
