Springfield Police and Fire approves $20m commitment

The Missouri-based US public pension has backed its maiden private debt vehicle.

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.

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