Seattle City Employees' Retirement System committed up to $30 million to Monarch Capital Partners VI.
The $3.8 billion pension fund's board approved the commitment to the distressed situations and opportunistic credit fund managed by Monarch Alternative Capital at its Oct. 12 meeting, said Jason Malinowski, chief investment officer.
It is the pension fund's first commitment to a Monarch fund, Malinowski said.
As of June 30, the pension fund's actual allocation to credit fixed income was 7%, equal to its target.