MFPRSI approves $30m commitment

The US public pension has backed a direct-lending fund.

Institution: Municipal Fire & Police Retirement System of Iowa
Headquarters: West Des Moines, United States
AUM: $2.9bn
Allocation to alternatives: 35.9%

Municipal Fire and Police Retirement System of Iowa has agreed to commit $30 million to Bain Capital Global Direct Lending 2021, according to minutes from the pension’s January 2021 board of trustees meeting.

The fund, managed by Boston-based Bain Capital, will seek to invest in mid-market direct-lending opportunities across North America, Europe and Australia.

As illustrated below, the $2.9 billion US public pension has a 2 percent current and target allocation to private debt.

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