Michigan makes debt secondaries purchases

The US pension acquired four stakes in Crescent Capital and Czech Asset Management funds, documents from its latest investment committee meeting show.

State of Michigan Retirement Systems acquired stakes in four debt funds in the first quarter of the year, according to documents from the pension’s latest quarterly report.

PDI sister publication Secondaries Investor has reported that the US pension system’s purchases comprise a $10 million stake in a 2011-vintage mid-market direct lending fund managed by Czech Asset Management and $6.2

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