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The $239m (£191.8m) Natick Massachusetts Contributory Retirement System is about to take a position 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 Better 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 break up of fifty.9 per cent in international fairness, 21.21 per cent in mounted 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 personal debt or direct lending in 2022.
Learn extra: US pension fund Calpers to spice up non-public debt publicity
Quite a lot of international pension funds and retirement techniques have opted to create space of their portfolios for personal credit score lately, because of the rising reputation of the sector. Final yr, the Chicago Academics’ Pension Fund mentioned it was getting 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 most important pension funds in Canada have began to develop into the non-public sector market.
Learn extra: Personal debt sector poised for inflow of pension cash
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