Ventura County (Calif.) Employees' Retirement Association made two new private debt commitments totaling $50 million.
The $6.7 billion pension fund's board Monday approved commitments of $25 million each to Crayhill Principal Strategies Fund II, a private credit fund managed by Crayhill Capital Management, and Torchlight Debt Opportunity Fund VII, a real estate debt fund managed by Torchlight Investors, Chief Investment Officer Dan Gallagher said in an email.
As of Nov. 30, the pension fund's actual allocation to private debt was 2.2%; the target is 5%.
Investment consultant NEPC assisted.
