Year to date, defined benefit plan sponsors have made 191 private credit manager hirings totaling $23.4 billion, based on data collected by Pensions & Investments. That follows last year’s 239 hires that totaled $27.3 billion.
Pension plans continue private credit hiring spree
California Public Employees' Retirement System led the way with $4.3 billion in mandates this year, followed by New York State Common Retirement Fund ($1.2 billion), New Mexico State Investment Council ($1.1 billion), and Florida State Board of Administration (slightly more than $1 billion). The 10 plan sponsors with the most private credit hirings accounted for 55% of this year’s activity.
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