Houston Firefighters’ Retirement Commits $195M to Private Equity, Private Credit

The Houston Firefighters’ Relief and Retirement Fund has approved $195 million to be committed across three alternative funds.

$120 million was committed to the Cerberus Levered Loan Opportunities Fund V, a private credit, managed by Cerberus Capital Management. 

In the private equity portfolio, two lower middle market buyout funds were awarded an allocation. $50 million was committed to Bertram Capital V and $25 million to Bertram Ignite I, according to meeting minutes from the December 13 investment committee meeting.

As of October 31, 2022, the Retirement Fund had a market value of approximately $5 billion.

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