Austin (Texas) City Employees' Retirement System committed $90 million to Blue Owl Diversified Lending Fund.
The $3.4 billion pension fund's board approved the commitment to the direct lending fund managed by Blue Owl Capital at its Dec. 19 meeting, said spokesperson Mehrin Rahman.
The pension fund created a 10% target to private credit in 2023 following the completion of an asset allocation study, and this is its first private credit commitment, said Rahman.
Investment consultant RVK assisted.
