Delaware Public Employees' Retirement System, Dover, committed up to $50 million to Summit Partners Subordinated Debt Fund VI.
The $14.5 billion pension fund's investment committee approved the commitment to the private credit fund at its Aug. 16 meeting, recently released meeting minutes show.
The pension fund previously committed up to $40 million to Summit Partners Growth Equity Fund XI in September 2021.
The pension fund's actual allocation to alternative investments was 24.2% as of June 30, 2021, the most recent data available.
Brenda A.M. Wise, director of policy and communications at Delaware's office of management and budget, could not be immediately reached for further information.
