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.
Search information is available on the website of NEPC, the pension fund's investment consultant. Proposals are due at 2 p.m. EDT on May 17. A timeline for a selection has yet to be determined.
NEPC is assisting with the search.
