ICERS approves $10m follow-on commitment

The California public pension increases commitment to a TSSP credit fund.

Institution: Imperial County Employees’ Retirement System (ICERS)
Headquarters: El Centro, United States
AUM: $867.95m
Allocation to alternatives: 19.40%
Bitesize: $10-50m

Imperial County Employees’ Retirement System has committed an additional $10 million to TPG Diversified Credit fund, bringing the total commitment size to $20 million. Launched in 2016, the fund has received investments from Tulare County Employees Retirement Association and San Luis Obispo County Pension Trust.

The $867.95 million US public pension has a 5 percent target allocation to private debt that currently stands at 2.60 percent.

As illustrated in the charts below, ICERS devotes 19.40 percent of its full investment portfolio to alternative assets.

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