Institution: City of Philadelphia Board of Pensions & Retirement
Headquarters: Philadelphia, United States
Allocation to alternatives: 19.50%
The City of Philadelphia Board of Pensions & Retirement has confirmed a commitment of $45 million to Deerpath Fund V, according to the pension’s December 2019 board meeting minutes. The fund will follow its predecessors’ strategy of providing senior loans to corporations across a range of industries.
The $5.8 billion US public pension has a 0.50 percent allocation to private debt.
As illustrated below, Philadelphia has made five commitments to private debt funds with vintage years between 2010 to 2019, which combined constitute at least $70 million.
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