Southfield ERS Commits $8M to Private Credit

At their April 16 board meeting, the Southfield Employee Retirement System (SERS) approved three commitments to private credit funds totalling $8 million, per meeting minutes.

$5 million was allocated to Marathon CMBS Dislocation Fund. The pension fund previously allocated $3 million.

A $1.5 million commitment was allocated to PIA Fund. The $1.5 million will be transferred from Comerica S&P 500 into the PIA Fund.

Lastly, $1.5 million was allocated to Bloomfield Capital V Fund. The Fund will target middle market opportunities in real estate debt and other general debt and debt-related transactions.

As of March 31, SERS has a market value of $128.6 in assets.

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