The Independent Investment Committee of the New Hampshire Retirement System, Concord, committed an additional $25 million to Ares Pathfinder Fund II, a credit special situations fund managed by Ares Management.
The commitment was approved at the Sept. 12 board meeting, a spokesperson for the $11.4 billion pension system confirmed.
NHRS previously committed $50 million to Ares Pathfinder Fund II in August 2023, raising the total commitment to $75 million.
The spokesperson also confirmed that the committee also voted to renew the contract for Income Research and Management, a public fixed-income manager, for another five-year term.
Income Research and Management managed $760 million in fixed-income assets for NHRS as of June 30, the spokesperson added.
The pension plan's actual allocation to credit is about 20%.