Devon County Council makes first private debt allocations

Devon County Council Pension Fund, Exeter, England, hired two firms to run a combined £150 million ($195 million) in private debt allocations, said Mark Gayler, assistant county treasurer, investments and treasury management, investments team at Devon County Council.

The £3 billion pension fund committed $75 million to Golub Capital Partners International Fund 11. A document from a meeting of the investment and pension fund committee, dated June 16, said it will provide a U.S. exposure to private debt.

The remaining £90 million was committed to BlueBay Asset Management's Senior Loan Fund I, providing European exposure to private debt.

This is the pension fund's first private debt allocations, Mr. Gayler said.