Arizona Public Safety Personnel Retirement System, Phoenix, invested $250 million in Sabal Strategic Opportunities Fund, spokesman Christian Palmer said in an email.
The $11.7 billion pension fund's investment in the opportunistic credit fund managed by Sabal Capital Partners closed Oct. 2.
The pension fund previously invested up to $50 million directly and $25 million in co-investments in Sabal Debt Opportunities Fund in 2017.
As of Aug. 31, the actual allocation to private credit was 12.7%.
