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FUNDRAISING NEWS | September 20, 2024
The Wayne County Employees’ Retirement System (ERS) board approved $50M in investments to high-yield debt strategies across four managers, according to recently released meeting minutes from its August 26 board meeting.
The Detroit-based pension approved a $25M investment in Marathon Opportunistic Credit Fund II, a distressed private debt fund and a $5M commitment to Mesirow High Yield Bond Fund. It also committed $10M to Bayview Credit Opportunities Fund and $10M to First Eagle Credit Opportunities Fund, both of which are non-investment-grade, fixed-income funds.
Titan Wealth Advisors served as consultant on the investments.
According to Dakota data, the Retirement System has $1.3B in managed assets.
For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of Dakota Marketplace!
Written By: Jane Bailey, Marketing Associate
Jane Bailey is a Marketing Associate at Dakota.
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