BCFPERS approves $30m in commitments

The US public pension has an appetite for distressed debt and senior debt-focused funds.

Institution: Baltimore City Fire and Police Employees’ Retirement System
Headquarters: Baltimore, US
AUM: $2.86 billion
Allocation to alternatives: 25.7%

Baltimore City Fire and Police Employees’ Retirement System backs private debt funds from Nexus Capital Management and Torchlight Investors, according to September 2020 board meeting documents.

The system committed $15 million to Nexus Special Situations III, which focuses on the corporate sector. It is targeting $1 billion.

The institution also invested up to $15 million to Torchlight Debt Opportunity Fund VII, which is targeting $1.5 billion.

BCFPERS’ allocation to private debt currently stands at 1.8 percent. As illustrated below, BCFPERS has committed between $10 million to $20 million to private debt funds.

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