Investors

SBCERA rescinds $25m commitment to Alcentra

The California pension fund has said it will rescind its investment in the Alcentra European-focused direct lending fund over concerns about the leverage facility used in the fund.

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A US pension fund has opted out of Alcentra’s European Direct Lending fund over concerns about its leverage facility.

The San Bernardino County Employees’ Retirement Association (SBCERA), a California pension fund with more than $8 billion of assets under management, rescinded it’s $25 million commitment to the direct lending strategy in December.