DCRB approves $100m commitment

The pension has backed a private debt fund following its May board meeting.

Institution: District of Columbia Retirement Board
Headquarters: Washington, DC
AUM: $11.01 billion
Allocation to alternatives: 15.1%

District of Columbia Retirement Board has confirmed a $100 million commitment to Fortress Lending Fund III according to minutes from the pension’s May 2022 board meeting.

This is a first time commitment between DCRB and Fortress Investment Group.

DCRB currently allocates 0.4 percent to private debt, while its target stands at 3 percent. Its previous fund commitments range between $25 million and $100 million, predominately focused in Western Europe.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy, and fund investments.