Institution: City of Springfield Police and Fire Pension Fund
Headquarters: Springfield, US
AUM: $468.69 million
Allocation to alternatives: 8.7%
The City of Springfield Police and Fire Pension Fund has confirmed a $20 million commitment to Marathon Distressed Credit Fund, according to minutes from the pension’s October retirement board meeting.
Marathon Asset Management‘s North America-focused distressed vehicle has been in market since December 2019 and has since raised more than $450 million in equity capital.
This commitment by Springfield Police and Fire to Marathon Distressed Credit Fund marks the pension’s debut commitment to a private debt vehicle.
As illustrated below, Springfield Police and Fire has a 5 percent target allocation to private debt that currently stands at 1.7 percent.
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