Cincinnati Retirement System approved two new private debt commitments totaling $40 million.
The $2.5 billion pension fund's board at its Nov. 4 meeting approved commitments of $20 million each to Carlyle Direct Lending Evergreen Fund, managed by Carlyle Group, and Owl Rock Diversified Lending Fund 2020, managed by Owl Rock Capital, recently released meeting minutes show.
As of Sept. 30, the pension fund's actual allocation to private debt was 0.3%; the target is 3%.
Investment consultant Marquette Associates assisted.
Paula Tilsley, executive director, could not be immediately reached for further information.