Lincoln (Neb.) Police & Fire Pension Fund committed $4 million to Golub Capital Partners International 11, a direct lending fund, said Paul Lutomski, pension officer.
The $221 million pension fund made its first commitment in private credit as a result of a new 5% target to the asset class, Mr. Lutomski said. The pension fund's fixed-income target was reduced to 10% from 15% because of the change.
Mr. Lutomski had no further information on plans for the fixed-income allocation. He said further plans for private credit will be discussed at the pension fund's Aug. 10 board meeting.
Investment consultant Ellwood Associates assisted.