Boston Retirement System committed a total of $55 million to three funds, confirmed John Kelly, investment analyst for the $5.2 billion fund.
At its June 17 meeting, the board committed $35 million to GoldenTree Distressed Co-Investment Fund III, a distressed debt fund managed by GoldenTree Asset Management.
The board also committed $10 million apiece to two niche lending funds: 400 Capital Credit Opportunities Fund, a structured credit fund managed by 400 Capital Management; and MC Credit Fund III, a direct lending fund managed by MC Credit Partners.
The system launched a search for private debt managers in October. NEPC, the plan's investment consultant, assisted with the search.