Westmoreland County plan makes first real estate, private debt commitments

Municipal Authority of Westmoreland County Employees Pension Plan, New Stanton, Pa., made two new commitments totaling $5 million, said Robert J. Bulas, senior vice president, institutional investment consultant at Morrison Fiduciary Advisors, the $50 million pension fund's investment consultant.

The pension fund committed $2.5 million each to Boyd Watterson GSA Fund, a real estate fund managed by Boyd Watterson Asset Management, and Hamilton Lane Strategic Opportunities Fund 2017, a private debt fund of funds.

The pension fund issued an RFP in October to hire its first private debt and real estate manager, both new allocations, Mr. Bulas said. Funding comes from rebalancing and no managers will be terminated.