City of Fresno approves $60m commitment

The $3bn US public pension targets a North American corporate debt vehicle.

The City of Fresno Retirement Systems committed $60 million to Monroe Private Credit Fund III at its 24 January board meeting.

The $3 billion US public pension previously invested $50 million in the predecessor vehicle, Monroe Private Credit Fund II, in 2015.

Fresno has an 8 percent target allocation to private debt that currently stands at 6.5 percent.

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