Louisiana Sheriffs' Pension & Relief Fund, Baton Rouge, will make its first commitments to private credit in 2022.
The $4.8 billion pension fund will make the commitments based on the recommendation of its investment consultant, Russell Investments, to add a target of 5% of the total fund to private credit, said Osey "Skip" McGee Jr., executive director.
Funding will come from reducing the targets to real estate and hedge funds, Mr. McGee said. He said no redemptions or reductions will be necessary because the asset classes are currently below their targets. He had no further information on the individual targets.
The pension fund does not issue RFPs.
As of June 30, the pension fund's actual allocation was 63% public equities, 21% fixed income, 12% alternative investments, 3% high yield/emerging markets debt and 1% cash and equivalents.
