Tulare County Employees' Retirement Association, Visalia, Calif., named Silver Creek Capital Management, Pacific Investment Management Co., TPG and White Oak Global Advisors, as semifinalists in its search for one or more private credit managers, said David Kehler, retirement administrator of the $1.2 billion fund.
Presentations are scheduled for July 27.
Allocation sizes and the number of managers that will be hired have not been determined. A hiring decision could be made in August or September.
The pension fund adopted a new 5% private credit target this year.
Investment consultant Verus is assisting.