Tulare County Employees' Retirement Association, Visalia, Calif., named Silver Creek Capital Management and TPG as finalists in its search for one or more private credit managers, said David Kehler, retirement administrator of the $1.2 billion fund.
The allocation would be 5% of total pension fund assets or about $60 million. The pension fund adopted the 5% private credit target this year.
A hiring decision is anticipated in late August or September.
Investment consultant Verus is assisting.