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New Hampshire pledges $50 million to Crescent direct lending fund

New Hampshire Retirement System, Concord, committed $50 million to Crescent Direct Lending Levered Fund II, managed by Crescent Capital Group, said Marty Karlon, spokesman, in an email.

The $8.1 billion pension fund previously committed $50 million to Crescent Direct Lending Levered Fund in 2014.

As of March 31, the pension fund's actual allocation to alternative assets was 14.7%. The target is 15%.

Investment consultant NEPC assisted.