Ohio Police & Fire Pension Fund, Columbus, made four new commitments totaling up to $230 million, spokesman David Graham said.
The $14.3 billion pension fund committed up to $75 million each to direct lending funds GSO European Senior Loan Fund, managed by GSO Capital Partners, and KKR Lending Partners II, managed by KKR & Co.
The commitments fall under the pension fund's high-yield allocation, which consists of traditional high-yield bonds and bank loans. The target is 15%, while the actual allocation was 12.3% as of May 31. These are the third and fourth direct lending funds to which the pension fund has committed this year.
The pension fund previously committed to direct lending funds managed by MC Credit Partners and Tennenbaum Capital Partners earlier this year.
Separately, the pension fund committed up to $40 million to buyout fund Francisco Partners IV, and $40 million to distressed debt fund BDCM Opportunity Fund IV, managed by Black Diamond Capital Management.