Lexington Retirement seeks private debt fund managers

The Massachusetts pension wants assistance with its investment needs.

Lexington Retirement System is soliciting proposals from managers of a senior direct lending strategy. More specifically, the retirement board seeks a demonstrated ability to manage a diversified strategy that directly originates and invests in the senior secured debt of North American companies. Only proposals for experienced managers of senior direct lending funds will be considered. Funds of funds, co-investment funds, secondaries funds, and sector-specific funds will not be considered. The board intends to commit approximately $7.5 million.

The $144 million US public pension has a current private debt allocation of 7.4 percent.

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