Hollywood Employees makes first direct lending commitment

Hollywood (Fla.) Employees' Retirement Fund committed $12 million to a direct lending fund managed by Angelo Gordon & Co., said Lisa Castronovo, pension coordinator.

The $304 million pension fund conducted a shortlist search earlier this year for its first direct lending manager, the result of a fixed-income structure study conducted by investment consultant Segal Marco Advisors.

Other finalists were Golub Capital and White Oak Global Advisors.

Ms. Castronovo had no further information on a fund name or funding source.