Dallas Police & Fire Pension System committed $10 million to Riverstone Credit Partners, said Kelly Gottschalk, executive director, in an e-mail.
The energy-focused credit fund is managed by Riverstone Holdings. Investment consultant NEPC assisted with commitment.
In addition to the Riverstone commitment, NEPC recommended an additional $20 million be allocated to vintage year 2016 private credit funds to help the $2.9 billion pension fund reach a new 5% private credit target. The pension fund has a roughly 3% allocation to private credit. It did not have a dedicated private credit target previously.
NEPC also recommended an additional $20 million be allocated to private equity for 2016 funds.
In other news, the pension fund last month terminated the Townsend Group as its real estate consultant, Ms. Gottschalk wrote. The board will discuss replacing Townsend at a special meeting on March 24. Ms. Gottschalk did not provide a reason for the termination.
A Townsend spokesman was not immediately available for comment.
