New Hampshire Retirement System, Concord, committed $50 million to Crescent Direct Lending Levered Fund III.
The $10.3 billion pension fund's independent investment committee approved the commitment to the direct lending fund managed by Crescent Capital Group at its Feb. 19 meeting, pension fund spokesman Marty Karlon said.
NHRS previously committed $50 million to Crescent Direct Lending Levered Fund II in 2017.
As of Dec. 31, the pension fund's actual allocation to alternative assets was 17.6%.
Investment consultant Callan assisted.