Investors - JULY 9, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

CCCERA commits $75m to energy fund

by Zoë Wolff

The Contra Costa County (Calif.) Employees’ Retirement Association has committed $75 million to Angelo Gordon Energy Credit Opportunities Fund, according to Timothy Price, CIO for the pension fund. The board has the ability to increase the amount to $125 million as the opportunity develops.

The fund’s strategy will originate loans to small and mid-sized companies in the energy industry with a focus in oil and gas, oilfield service, midstream, transportation, and other energy-related companies.

According to meeting documents, “Staff felt there was a great alignment of interests in the structure of the Angelo Gordon Fund.”

The $6.5 billion pension fund has previously invested with Angelo Gordon, including Angelo Gordon Realty Fund VIII in 2011 and Angelo Gordon Realty Fund IX in 2014. This commitment falls under CCCERA’s opportunistic allocation, which has a target of up to 5 percent.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy