SJCERA to commit $100m annually to private debt funds

The US public pension plans to commit to two or three private debt funds in 2020.

Institution: San Joaquin County Employees’ Retirement Association
Headquarters: Stockton, United States
AUM: $3.22bn
Allocation to alternatives: 12.20%

San Joaquin County Employees’ Retirement Association intends to commit up to $100 million across two or three private debt partnerships, according to the institution’s May 2020 Retirement Board meeting agenda. The public pension is aiming to explore commitments that would provide diversification both through vintage year and firm, with approximately $50 million allocated to each investment opportunity.

The $3.22 billion US public pension currently allocates 6.10 percent of its investment portfolio to private debt. The pension fund also invests in assets classes such as private equity and private real estate.

As illustrated below, SJCERA’s recent commitments have been made to funds that focus on senior debt or mezzanine debt strategies in the corporate sector.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.