Credit/Private Debt
The state pension fund approved the hire at today’s board meeting, expanding its existing agreement with its alternatives investment consultant.
The fund is targeting $1.25 billion in total commitments, with a final close expected within 12 months of its first close on June 8.
The pension plan disclosed $575 million in private equity and private credit commitments at yesterday’s board meeting.
The retirement association selected a firm to split its 6% allocation to liquid credit at today’s board meeting.
Crescent Direct Lending Fund IV raised $10.8 billion in investable capital.
The pension plan considered establishing a 5% target to either private equity or private credit last month.
The retirement fund will interview four funds in its private debt manager search tomorrow.
The state pension fund is considering a private markets emerging manager program and will issue an RFI as it looks to gather further insight into the process.
The commitments include two new manager relationships for the plan.
The pension plan also made private debt and private equity commitments yesterday.
