The Orange County Employees Retirement System approved a $50 million commitment to Tennenbaum Capital to fund the direct lending sub-allocation of its diversified credit portfolio, spokesperson Robert Kinsler told Private Debt Investor.
“In May 2012, the Investment Committee approved an allocation of 7 percent of the total OCERS portfolio to Diversified Credit, with a sub-allocation of 15 percent of that amount (presently $110 million) to Direct Lending managers, and an equal sub-allocation or “earmark” for European credits (the funding of Tennenbaum Capital came out of that latter “earmark”),” Kinsler said in an email.
