The $239m (£191.8m) Natick Massachusetts Contributory Retirement System is ready to speculate as a lot as $20m in direct lending funds.
The US pension fund has issued a request for proposals (RFP) from non-public debt managers providing direct lending methods.
The retirement system covers the city of Natick, which is located inside the Higher Boston space. The five-person retirement board meets month-to-month to debate the administration of the retirement fund, with the final assembly being held on 24 April 2024.
In its 2022 monetary assertion, Natick Contributory Retirement System reported a portfolio cut up of fifty.9 per cent in international fairness, 21.21 per cent in fastened revenue, 18.1 per cent in non-public fairness, 9.4 per cent in actual property, and 0.5 per cent in port. comp. methods. There was no allocation to non-public debt or direct lending in 2022.
Learn extra: US pension fund Calpers to spice up non-public debt publicity
Plenty of international pension funds and retirement techniques have opted to create space of their portfolios for personal credit score just lately, because of the rising reputation of the sector. Final 12 months, the Chicago Academics’ Pension Fund stated it was making ready to make its first non-public credit score investments.
Over the previous few months, pension funds in Philadelphia, New York and Texas have all issued RFPs for personal credit score funds, whereas 4 of the biggest pension funds in Canada have began to broaden into the non-public sector market.
Learn extra: Non-public debt sector poised for inflow of pension cash
