San Bernardino Commits 35% To Alts.

Jun 19 2008 | 2:00am ET

At least one penion fund is not shy about investing in alternatives. The $6.3 billion San Bernardino County (Calif.) Employees’ Retirement Association last month approved upping its allocation to the space from 32% to 35%.

The fund is also boosting its distressed debt, credit and private equity portfolios with new commitments, according to minutes from its May 12 meeting. Last month, the fund committed $10 million each to secondary buyout funds Lexington Middle Market II and Industry Ventures V.

It also committed $30 million each to Oaktree U.S. Convertible Bond Strategy, Oaktree High Income Convertible Bond Strategy, Lord Abbott Convertible Fixed Income Management Fund and Ares Enhanced Credit Opportunities Fund.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…