Cincinnati Retirement System confirms $40m commitment

The Ohio-based public pension has backed an distressed debt fund.

Institution: Cincinnati Retirement System
Headquarters: Cincinnati, United States
AUM: $2.04 billion
Allocation to alternatives: 28.07%

Cincinnati Retirement System has committed $40 million to HIG Bayside Loan Opportunity Fund VI, according to minutes from the pension’s June 2020 investment subcommittee meeting.

HIG Capital’s credit vehicle is in market targeting $1.25 billion in capital commitments. The fund’s immediate predecessor held a final close on $1.1 billion in June 2019.

As illustrated below, this commitment marks CRS’s first known foray into private debt.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.