Stanislaus County Employees’ Retirement Association, Modesto, Calif., committed $20 million to Crayhill Principal Strategies Fund III.
The $3 billion pension fund disclosed the Nov. 1 commitment to the asset-based private credit fund managed by Crayhill Capital Management in a memo to the board from Stan Conwell, retirement investment officer, included with Dec. 3 board meeting materials.
It is StanCERA’s first commitment to a fund managed by Crayhill Capital.
As of Sept. 30, the pension fund’s actual allocation to private credit was 7.3%; the target is 8%.
