Institution: Police & Fire Retirement System of the City of Detroit
Headquarters: Detroit, United States
Allocation to Alternatives: 16.4%
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.
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