DPFRS makes $75m in commitments

The US public pension has backed five private credit funds.

Institution: Police & Fire Retirement System of the City of Detroit
Headquarters: Detroit, United States
AUM: $3.12bn
Allocation to Alternatives: 16.4%
Bitesize: $10-50m

DPFRS has agreed to commit $75 million to five private credit funds, according to recently approved board minutes.

The commitments comprise of $15 million each to Churchill Middle Market Senior Loan Fund III, Comvest Direct Lending Fund V, Raven Asset-Based Opportunity Fund IV, Crescent European Specialty Lending Fund II and THL CLO Equity Fund.

As illustrated in the charts below, the $3.12 billion public pension’s prior private credit fund managers include ValStone Partners and Smith Whiley & Co.

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