North Carolina Retirement Systems, Raleigh, committed $735 million to alternative investment and real estate funds.
In credit strategies, North Carolina committed $300 million to Marathon Asset Management's Marathon Currituck Fund, a custom arrangement that includes commitments to Marathon commingled funds and separate accounts in opportunistic credit fixed income, said Schorr Johnson, spokesman for state Treasurer Janet Cowell, sole trustee of the $87.4 billion pension fund, citing documents released at the May investment advisory committee meeting.
In private equity, pension fund committed $150 million to Crestview Partners III, a middle-market private equity fund.
For the inflation portfolio, the pension fund committed $125 million to Orion Mine Finance Fund I-A and $60 million to Intervale Capital Fund III.
In real estate, a triple-net lease fund managed by Angelo, Gordon & Co., AG Net Lease Realty Fund III, received a $100 million commitment.
Mr. Johnson said all the commitments have taken place since March.