Minnesota SBI approves $100m commitment to Marathon Secured Private Strategies Fund III

The St Paul-based organisation has re-upped with Marathon Asset Management.

Institution: Minnesota State Board of Investment
Headquarters: St Paul, United States
AUM: $89.9 billion
Allocation to alternatives: 17.4%

Minnesota State Board of Investment approved a $100 million commitment to Marathon Secured Private Strategies Fund III at its December 2021 investment board meeting.

This commitment is a re-up with Marathon Asset Management. The organisation previously committed $100 million to the fund’s predecessor, Marathon Secured Private Strategies Fund II, which held a final close on $900 million in January 2021, exceeding its $750 million target.

As illustrated below, Minnesota SBI allocates 1.1 percent of its full investment portfolio to private debt. Its recent commitments to private debt have been to distressed debt and mezzanine debt vehicles primarily focused on the corporate sector in North America.

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