Searches and Hires

Hartford Municipal earmarks $23.5 million private credit, equity

Hartford (Conn.) Municipal Employees' Retirement Fund committed a total of $23.5 million to three alternatives funds, said Gary Draghi, director of investments for the $1.1 billion defined benefit plan.

The pension fund committed $8 million each to two private debt funds: Monroe Capital Private Credit Fund III and Permira Credit Solutions Managed Account. MERF has invested in two prior Monroe Capital private credit funds, while Permira is a first-time commitment. MERF's private debt investment consultant, NEPC, assisted with the two commitments.

The pension fund also committed $7.5 million to Landmark Equity Partners XVI, a secondary private equity fund managed by Landmark Partners. MERF has invested in four prior Landmark funds. MERF's private equity investment consultant, Pension Consulting Alliance, assisted.

The commitments are pending final due diligence and contract negotiation.

The pension fund has an 8% allocation to private equity and 3% to private credit.