Ann Arbor Employees’ Terminates EMD, Hedge Fund, Bank Loans Managers

July 22, 2022

Written By:
Koncheng Moua, Research Data Analyst

The City of Ann Arbor Employees’ Retirement System has eliminated emerging markets debt, hedge fund, and bank loan strategies from their portfolio. 

It was approved to reduce the policy targets to 0% for emerging markets debt, hedge funds, and bank loans, according to recently released minutes from the June 29 Board meeting.

Stone Harbor Emerging Markets Local Currency Debt was terminated and will be liquidated in the amount of approximately $9 million.

36 South Kohinoor Series Three was terminated and will be liquidated in the amount of approximately $4.1 million.

Beach Point Leveraged Loans was terminated and will be liquidated in the amount of approximately $11.1 million.

Proceeds from the liquidations will be used to fund new commitments, capital calls, and benefit payments. 

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