Ventura County Commits $25M to Private Credit; Targeting $275M to Private Credit in 2024

The Ventura County Employees’ Retirement Association (VCERA) has approved a $25 million commitment to Cross Ocean European Special Situations Fund V (ESS V). 

The commitment is a follow-on investment to the existing fund Cross Ocean Partners ESS Fund IV. The strategy targets diversified European exposure with a focus on illiquid senior secured credit. 

Also approved was the motion to increase the target allocation to private credit from 8% to 10% over a three year period. VCERA is targeting $275 million to private credit in 2024, and $300 million in 2025.

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