San Antonio F&P Invests $25M in CarVal Aviation Fund II

The San Antonio Fire and Police Pension Fund made a $25M follow-on commitment to CarVal Investors’ aviation-focused buyout fund, according to its recently published minutes from its December 11, 2024, board meeting.

The Texas pension unanimously approved the allocation to CarVal Aviation Income Fund II, following a discussion with the AllianceBernstein-affiliated manager on risks and opportunities within the global aviation industry. The re-up commitment was first considered during the pension’s November 20 board meeting, as it noted a 10.6% IRR from its investment in predecessor Fund I. 

To date, San Antonio Fire and Police manages a total portfolio valued at $4.3B, per latest Dakota data. 

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Written By: Dakota

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