St. Louis meeting BlueBay and Monroe

The Midwest US public schools retirement fund has an unfulfilled one percent private debt allocation.  

The Public School Retirement System of the City of St. Louis (PSRSSTL) will interview Monroe Capital and BlueBay Asset Management at its 22 June board meeting, recently published documents show. A representative of consultant NEPC suggested that the fund allocate $10 million to direct lending, the pension’s April meeting minutes show.

The NEPC representative defined private debt and reminded the board that its one percent private debt allocation remains uncommitted before recommending the direct lending strategy.

Chicago-based Monroe and London-headquartered BlueBay are both fundraising for new direct lending vehicles. Both also reached a first close on their respective funds within the last few months.

The St. Louis committee had also been due to listen to a review of emerging market debt opportunities, but that presentation was deferred until the June meeting next week.