Iowa Municipal Fire & Police Retirement System, West Des Moines, agreed to commit a total of $50 million to two private credit funds, confirmed Terry Slattery, executive director of the $2.5 billion pension fund, in an email.
At its April 9 meeting the board voted to commit $25 million each to Golub Capital Partners 12 and Monroe Capital Private Credit Fund IV.
Funding comes from the board terminating its MLP allocation in January after deciding that the allocation was not a good fit for the portfolio, Mr. Slattery said. The MLP allocation consisted of two managers, Tortoise Capital Advisors and Harvest Fund Advisors.
