Eagle Point Credit Management receives $50m commitment

South Carolina Retirement System has committed to a North American CLO fund.

Institution: South Carolina Retirement System
Headquarters: Columbia, US
AUM: $38.3 billion

South Carolina Retirement System has confirmed a $50 million commitment to Eagle Point Credit Management’s second Defensive Income Fund, according to minutes from the pension’s September 2022 commission meeting.

The fund, Eagle Point Defensive Income Fund II, will invest in CLO opportunities in North America. The pension previously committed $55 million to the fund’s predecessor in July 2021.

The $38.3 billion US public pension’s private equity fund commitments tend to focus on North American vehicles targeting senior debt or CLO returns.

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