Minnesota SBI approves $600m in commitments

The US government organisation has backed four diversified private credit funds.

Institution: Minnesota State Board of Investment
Headquarters: St. Paul, United States
AUM: $104.30bn
Allocation to alternatives: 8.00%
Bitesize: $100-200m

Minnesota State Board of Investment committed $150 million to Audax Mezzanine Fund V, $100 million to Oaktree Real Estate Debt Fund III, $200 million to Prudential Capital Partners Fund VI, and $150 million to CVI Credit Value Fund V. All funds will focus on debt in the corporate sector with the exception of Oaktree’s third real estate debt fund.

The $104.30 billion US organisation currently allocates 1.40 percent of its investment portfolio to private debt.

As illustrated in the charts below, Minnesota SBI devotes eight percent of its full investment portfolio to alternative assets. The organisation has a strong appetite for North America-focused corporate debt funds.

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