Wayne County Employees' Retirement System, Detroit, made two new distressed debt commitments totaling up to $30 million.
The $1 billion pension fund's board approved commitments of $15 million each to Marathon Distressed Credit Fund, managed by Marathon Asset Management, and HIG Bayside Loan Opportunity Fund VI, managed by H.I.G. Capital, at its Nov. 6 meeting, recently released meeting minutes show.
Investment consultant AndCo Consulting assisted.
Robert Grden, executive director; Henry Wilson, chairman of the board; and Cassandra McDonald, board vice chairwoman, did not respond to requests for further information.