Delaware PERS Invests $50M in Oaktree Fund, Makes $140M Rebalance

The Delaware Public Employees’ Retirement System (Delaware PERS) approved a $50M allocation to Oaktree Power Opportunities Fund VII and undertook a $140M rebalancing away from healthcare and into global equities.

According to recently published materials from the pension’s August 20 investment committee meeting, it will terminate its $140M investment in Baillie Gifford Health Innovation Fund, reallocating $90M of the proceeds into the Baillie Gifford Long Term Global Growth Account and $50M into Viking Global Opportunities LP.

The Oaktree Capital Management investment continues the pension’s relationship with the fund manager, which received a $140M investment in its International Convertible Securities Strategy in 2021. Power Opportunities Fund VII is the latest installment in a series that seeks investments in critical infrastructure, including electric power, natural gas, water, wastewater, and other energy and utility-related businesses in North America and Europe.

According to data found in Dakota Marketplace, the Delaware PERS manages approximately $13.69B in assets.

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