SJCERA approves $50m commitment

The US public pension has backed a distressed debt vehicle.

Institution: San Joaquin County Employees’ Retirement Association
Headquarters: Stockton, United States
AUM: $3.14 billion
Allocation to alternatives: 20.7%

San Joaquin County Employees’ Retirement Association has approved a $50 million commitment to Davidson Kempner Long Term Distressed Opportunities Fund V, according to the pension’s June 2020 retirement board meeting minutes.

As illustrated below, SJCERA’s recent commitments have been made primarily to senior debt origination vehicles that focus on corporate debt. Alternative investments constitute 20.7 percent of the pension’s entire portfolio.

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