St. Louis Public School Retirement System commits to private debt fund
By Rob Kozlowski | December 12, 2012 3:08 pm
St. Louis Public School Retirement System committed $3 million to WP Global Partners Private Debt Strategy III, according to the $868 million pension fund's recently released Oct. 15 board meeting minutes.
Separately, investment consultant NEPC recommended the fund redeem its $500,000 investment out of a $5 million commitment to SVP Global Opportunities Fund II, according to recently released Nov. 15 investment committee minutes.
According to the minutes, NEPC is “concerned because the investment strategy has changed from the original strategy the retirement system agreed to when making the commitment.”
Andrew Clark, the pension fund's executive director, did not return a phone call for comment by press time.