Florida Retirement System Trust Fund approves $75m commitment

The US public pension has backed a corporate distressed debt fund.

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Institution: Florida Retirement System Trust Fund
Headquarters: Tallahassee, United States
AUM: $165.40bn
Allocation to alternatives: 24.90%
Bitesize: $100-200m

Florida Retirement System Trust has agreed to commit $75 million to Invesco Strategic Opportunities Fund III, a contact at the pension informed Private Debt Investor.

The $165.40 billion US public pension’s private debt investments lie within its 8.10 percent strategic investments portfolio. As well as private debt, this portfolio contains sub-asset classes such as hedge funds, commodities, agriculture and timberland.

As illustrated in the charts below, the pension has made five commitments to private debt funds with a 2018 vintage, which combined constitute $495 million.

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