Credit/Private Debt
The pension system made its third commitment to private credit this year at today’s board meeting.
The transaction will more than double Clearlake Capital Group’s assets under management.
The plan also made two private credit commitments in September.
The retirement system will conduct searches for domestic and global fixed-income and domestic and emerging markets equity managers.
The firm recently held the initial close of its flagship fund as it looks to complete its $500 million fundraise for the strategy in 2026.
The pension plan disclosed commitments totaling roughly $778 million in the third quarter.
The plan disclosed new commitments totaling $525 million at its board meeting last week.
The commitments conclude a private credit RFP search process that was launched in September.
The firm has completed fundraising for its fifth debt strategies fund, raising $2.15 billion in equity commitments.
The plan approved more than $1.8 billion in commitments at today’s board meeting.