Institutional Investors

San Bernardino continues to add to niche credit portfolio


The San Bernardino County Employees Retirement Association continues to build out its credit hedge fund portfolio.

Alcentra and Cairn Capital made presentations last month to trustees related to corporate bond and special situations strategies, as both firms were recommended by consultant NEPC. This past year, the $5 billion pension fund has redrawn its asset mix to include a 41% allocation to alternatives and has eyed niche credit strategies along with recent hires in opportunistic strategies such as a $40 million allocation to Marathon International Credit Opportunities Fund, while previously the Alcentra Special Situations