Clwyd Pension Fund, Mold, Wales, selected BlackRock to manage $27 million in North American private credit, said a spokeswoman at consultant JLT Employee Benefits, which led the search on behalf of the pension fund.
The £1.8 billion ($2.4 billion) pension fund conducted a strategic asset allocation review in 2016 and approved a new allocation of 3% or £54 million to private credit.
Earlier this year, Clwyd hired Permira to manage £34 million in European private credit.
