Wayne County ERS Gives Marathon $5M Top-up on CMBS Allocation

Wayne County Employees Retirement System said it allocated an additional $5M to Marathon Asset Management as manager in its fixed income CMBS bonds portfolio, according to its recently published December 16, 2024, meeting minutes.

Dakota reported in August last year that Wayne County retained Marathon as manager within the CMBS bonds portfolio to fulfill a $20M mandate. After the follow-on, the pension now brings its total commitment within the mandate to $25M, with the increment $5M allocated to Marathon Dislocation Fund. General consultant Titan Wealth Advisors recommended the increased investment.

Apart from the fixed income commitment, Wayne County also previously made a separate $25M investment in Marathon’s second-generation opportunistic credit fund last year, as reported by Dakota on September 20, 2024. The Michigan-based pension currently manages a $1.3B portfolio. 

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Written By: Dakota

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