Baltimore City Fire & Police Employees' Retirement System made two new private credit commitments totaling $35 million.
The $3.1 billion pension fund's board at its March 16 meeting approved commitments of $18 million to Crayhill Principal Strategies Fund II, managed by Crayhill Capital Management, and $17 million to Bain Special Situations Asia II, managed by Bain Capital Credit, spokeswoman Amy E. Baskerville said in an email.
As of March 31, the actual allocation to private debt was 2.1%; the target is 5%.
Investment consultant NEPC assisted.
