Alaska Retirement Management Board, Juneau, approved a commitment of up to $100 million to Crestline Specialty Lending Fund III, pending successful contract negotiations.
The board approved the commitment to the direct lending fund managed by Crestline Investors at its March 18-19 meeting, said Alysia Jones, the board's liaison officer.
ARMB previously committed up to $60 million to Crestline Specialty Lending Fund II in 2017.
Separately, the board placed Man Group on watch due to organizational changes. The board currently has $285 million invested in the Man Group Alternative Risk Premia Strategy. According to meeting materials, Keith Haydon, chief investment officer of the strategy, retired in February.
The board oversees the management of $38.6 billion in defined benefit and defined contribution plan assets, including the $22.1 billion Public Employees' Retirement System and $10.4 billion Teachers' Retirement System.