Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, committed about $50 million to Monroe Capital Private Credit Fund III, said Lisa Murray, chief investment officer at the Oklahoma state treasurer's office, which oversees the roughly $1 billion trust, in an email.
An RFP was issued in March.
Funding will come from a reduction to the trust's $86 million dynamic fixed-income portfolio with no terminations.
Separately, the trust rehired Bank of Oklahoma as custodian and Bank of New York Mellon (BK) as securities lending provider. An RFP was issued in March because it had been six years since custodian/securities lending services had gone out to bid.
Investment consultant NEPC assisted with the searches.