The City of Baltimore Employees’ Retirement System (ERS) has made a $30 million commitment to a private credit fund, according to meeting minutes from the August 18 board meeting.
$30 million was allocated to private credit fund, Oaktree Special Situations Fund III, managed by Oaktree Capital.
The investment will be classified in the Private Equity Composite of the total fund. As of July 31, 2022, the $2.1 billion Retirement System has an actual and target allocation to the private equity composite of 16.3% and 15% respectively.
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