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.
Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.