WCERS approves $30m in commitments

The US public pension has backed a pair of private debt vehicles in its latest round of commitments.

Institution: Wayne County Employees’ Retirement System
Headquarters: Detroit, US
AUM: $861.41 million
Allocation to alternatives: 23.49%

Wayne County Employees’ Retirement System has confirmed $30 million in commitments to two private debt funds, according to minutes from the pension’s November 2020 investment commission meeting.

The commitments comprised $15 million each to Marathon Distressed Credit Fund and HIG Bayside Loan Opportunity Fund VI. The two vehicles are managed by Marathon Asset Management and Bayside Capital, respectively, with both funds focusing on the acquisition of North American distressed debt.

As illustrated below, WCERS’ recent private debt commitments have focused on North American corporate debt funds targeting senior or distressed debt opportunities.

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