San Francisco ERS Commits $25M to Distressed Credit Fund

The San Francisco Employees’ Retirement System has approved an investment of up to $25 million to Centerbridge SPecial Credit Partners IV.

The private credit fund managed by Centerbridge is classified as a distressed/special situations investment within SFERS’ portfolio.

The investment was approved at the October 20 board meeting and was disclosed in a recent CIO report. 

As of October 31, 2022, the $32.4 billion retirement system has an actual and long term target allocation to private credit of 7.1% and 10% respectively.

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