Searches and Hires

Memphis Light, Gas & Water commits $35 million to distressed debt fund

Memphis Light, Gas & Water Division, Memphis, Tenn., committed $35 million to Courage Credit Opportunities Fund IV, a distressed debt fund managed by Courage Capital Management, said Tamara Nolen, spokeswoman, in an email.

The $1.4 billion pension fund previously committed $20 million to Courage Credit Opportunities Fund III in 2014.

Investment consultant Gavion assisted.