WCERS makes $15m commitment

The US public pension has backed a private credit fund.

Institution: Wayne County Employees’ Retirement System
Headquarters: Detroit, United States
Total AUM: $801.37m
Allocation to Alternatives: 14.2%
Bitesize: $10-50m

Wayne County Employees’ Retirement System has agreed to commit $15 million to Raven Credit Fund I, according to approved meeting minutes. The fund is managed by Raven Capital Management, a US-based investment adviser that focuses on opportunistic investments.

The $801.37 billion public pension currently allocates 14.2% of the funds to alternatives.

As illustrated in the charts below, the most recent recorded private credit fund commitment was to 2016 vintage fund Valstone Opportunity Fund VI.

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