Alaska Retirement Management Board, Juneau, committed $50 million to Crestline Specialty Lending, pending contract negotiations, said Judith Hall, liaison officer, in an e-mail.
Funding will come from cash.
The middle-market direct lending hedge fund is managed by Crestline Investors, one of the board's existing absolute-return managers.
As of Dec. 31, the board had roughly $187 million invested with Crestline and an overall 5.21% allocation to absolute-return strategies.
The board oversees more than $27 billion in retirement assets.
Ms. Hall could not be reached for additional information by press time.
