Hartford (Conn.) City Municipal Employees' Retirement Fund committed $10 million each to BNY Mellon subsidiary Alcentra's European Direct Lending Fund and Monroe Capital's Senior Secured Direct Loan Fund, said Gary B. Draghi, director of investments for the $1 billion pension fund.
“The idea is to get a combination of current cash flow and capital appreciation,” Mr. Draghi said.
Separately, the commission at Friday's meeting restarted the pension fund's securities-lending program. It rehired BNY Mellon, the pension fund's custodian, which had run the program before it was suspended in 2008, Mr. Draghi said.
