Searches and Hires

Maine Public Employees sets $100 million for Tennenbaum direct lending fund

Maine Public Employees Retirement System's board approved a $100 million commitment to TCP Direct Lending Fund VIII, a direct lending fund managed by Tennenbaum Capital Partners, said Andrew Sawyer, chief investment officer, in an email.

The $13.5 billion Augusta-based pension fund's approval for its first commitment to a TCP fund is subject to due diligence, legal review and negotiations.

The commitment would fall within the pension fund's alternative credit asset class. The target is 5%; as of June 30, the actual allocation was 0.2%.