Credit/Private Debt
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.
The fund is looking to put dry powder to work in the debt asset class to capitalize on recent volatility.
The fund closed with $400 million in capital commitments.
The global alternatives manager has successfully closed on over $19 billion in committed capital for its Global Direct Lending strategy.
