Belmont (Mass.) Contributory Retirement System is looking to commit $8 million to a private debt fund.
The $155 million pension fund is searching for its first private debt manager after creating a new 5% target to the asset class, said Robert Soohoo, executive director.
The pension fund is seeking closed-end funds that utilize either distressed debt or opportunistic debt strategies. Mr. Soohoo did not have further information on the funding source.
NEPC is assisting with the search.