NHRS diversifies private credit portfolio

The US pension has committed $50m to the Ares Pathfinder Fund II.

Institution: New Hampshire Retirement System
Headquarters: Concord, US
AUM: $10.65 billion

New Hampshire Retirement System has made a $50 million commitment to Ares Pathfinder Fund II, a contact at the pension has confirmed.

This is a new manager for NHRS and enables the pension to diversify its private credit allocation, which is now approximately two-thirds senior direct lending.

The asset-backed Pathfinder Fund II has a target of $5 billion and is expected to have a final close in the first quarter of 2024.

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