SMRS approves $350m in commitments

The US organisation has backed a North America and multi-regional focused funds.

Institution: State of Michigan Retirement Systems
Headquarters: Lansing, United States
AUM: $74.75 billion
Allocation to alternatives: 41.4%

State of Michigan Retirement Systems has announced commitments of $250 million to SJC Onshore Direct Lending Fund IV and $100 million to HarbourVest Direct Lending Fund, according to a document from its June board meeting.

The $74.75 billion government-related investment organisation devotes 41.4 percent of its full investment portfolio to alternative assets.

As illustrated below, SMRS tends to favour commitments to mezzanine debt funds within the corporate sector.

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