Seattle City Employees' Retirement System approved new commitments totaling up to $85 million.
The $4.1 billion pension fund's board at its meeting Thursday approved commitments of up to $40 million to Arcmont Direct Lending Fund IV, a direct lending fund managed by Arcmont Asset Management; up to $25 million to Brookfield Infrastructure Fund V, an infrastructure fund managed by Brookfield Asset Management; and up to $20 million to AG Asia Realty Fund V, a value-added real estate fund managed by Angelo Gordon & Co., said Jason Malinowski, chief investment officer, in an email.
The pension fund previously committed up to $35 million to Arcmont Direct Lending Fund III in 2018, up to $25 million to Brookfield Infrastructure Fund IV in 2019 and up to $15 million to AG Asia Realty Fund IV in 2018.
As of Dec. 31, the actual allocations to real estate, credit fixed income and infrastructure were 9.3%, 6.9% and 1.8%, respectively; their respective targets are 12%, 7% and 4%.
