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Credit Funds Tracker: 18 September 2020

Private credit drive gains momentum as Calpers backs Pimco.

Private credit continues to be viewed as an attractive investment strategy for institutional investors, with four global allocators outlining new buckets or increases to the asset class, according to documents seen by Creditflux

Bristol County Retirement Board, based in Taunton in Massachusetts, is on the hunt for an opportunistic credit manager, according to a request for proposal on the $713 million pension fund’s website. Investment consultant Segal Marco is assisting the investor with the search, found here, and the mandate will be around $25 million.  

Oklahoma Tobacco Endowment Settlement Trust is also searching for at  least one US direct lending manager and is anticipating awarding  between $50 million and $70 million. The manager, however, must not invest securities directly issued by a tobacco company. This restriction however does not apply to the underlying holdings of commingled funds, mutual funds, private market partnerships, and/or exchange traded funds. Submissions for proposals are due 28 September. Investment consultant NEPC is aiding the search.

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