Louisiana School Employees' Retirement System, Baton Rouge, will make commitments of up to $20 million to future private credit funds managed by ArrowMark Partners.
The $1.8 billion pension fund's board approved the amount at its Jan. 4 meeting, said Matthew Freedman, chief investment officer.
Implementation will be at the investment team's discretion, Mr. Freedman said.
The pension fund previously has made private credit commitments of up to $30 million to ArrowMark Global Opportunity Fund III and up to $50 million to ArrowMark Global Opportunity Fund II.
The current allocation to opportunistic credit is about 14%, Mr. Freedman said.