Institution: State of Michigan Retirement Systems
Headquarters: Lansing, US
AUM: $97.4 billion
The State of Michigan Retirement Systems has approved two new private debt commitments as revealed in recent meeting materials.
The US public pension fund allocated $100 million to Irradiant CLO Partners Fund III, a corporate CLO fund managed by Irradiant Partners that was launched in November 2022.
HarbourVest Partners also secured $75 million towards HarbourVest Credit Opportunities Fund III. The subordinated debt fund reached a first close in June of this year at $643.95 million.
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