South Tyneside Metropolitan Borough Council Tyne & Wear Pension Fund, Sunderland, England, hired Pemberton Capital Advisors and HPS Investment Partners to manage a £260 million ($367 million) private debt allocation, a spokesman at the pension fund said in an email.
The £8.7 billion pension fund added a new 3% allocation to private debt, while reducing its allocation to equity, the spokesman added.
The rest of the allocation includes equities at 55.5%, bonds at 18.2%, property at 12%, private equity at 7.5%, infrastructure at 2.5%, emerging market debt at 0.8% and trade finance at 0.5%.
