SBCERA considers separate accounts

SBCERA staff has recommended two separate accounts for debt and credit strategies.

The San Bernardino County Employees’ Retirement Association (SBCERA) will consider granting separately managed accounts to Oaktree Capital Management and Ares Management at its meeting Thursday, according to documents made available by the retirement association.

Although the accounts – dubbed master custodial accounts –  would differ in size and strategy, both give the firms a broad mandate to invest across their different business segments and funds, including European direct lending, global structured credit, real estate debt, distressed debt, liquid and illiquid credit strategies and private equity, according to proposal documents. SBCERA strongly recommended that its board approve both accounts, according to memos made available to PDI.

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