Dallas Employees’ Retirement Fund approved its first three private credit commitments, which total $60 million.
The $3.7 billion pension fund’s board approved commitments of $20 million each to MGG Structured Solutions II, a direct lending fund managed by MGG Investment Group; Silver Point Distressed Opportunity Institutional Partners II, a distressed debt fund managed by Silver Point Capital; and Vista Credit Partners Fund IV, a direct lending fund managed by Vista Equity Partners, at its Feb. 13 meeting, recently released meeting minutes showed.
The pension fund conducted an invitation-only search in the third quarter of 2023 after the board in May approved the creation of a 2.5% target allocation to private credit, according to board meeting materials. The funding source for the new target was not provided.
Investment consultant Wilshire Advisors assisted.
Cheryl Alston, executive director, did not reply to requests for further information.
