Macomb County Employees’ slates $10m for Mavik Capital fund

The Macomb County (Mich.) Employees' Retirement System has approved a $10 million investment with Mavik Capital Management, an opportunistic investment firm focused on U.S. commercial real estate credit and special situations investments.

The New York-based debt manager places emphasis on highly structured investments, predictable current yield and margin-of-safety across all property types and the capital stack, according to Preqin. The firm focuses on a range of opportunities, including commercial, hotel, office, industrial and retail properties.

Macomb County Employees' did not disclose the specific fund it would invest in, however, it did note in board meeting minutes from Oct. 27 that the fund has a closing date of Dec. 31, so there is a short timeline to invest.

In other news, Macomb County Employees has approved a rebalancing that would move $37 million ($15 million from Yousi