Kentucky County Employees' Retirement System, Frankfort, committed a total of up to $350 million to Adams Street Senior Private Credit Fund III and its co-investment sidecar vehicle.
The $11.1 billion pension fund's board approved the commitments of up to $175 million each to the specialty credit fund and its sidecar vehicle at its March 9 meeting, a webcast of the meeting shows.
CERS previously committed up to $250 million each to Adams Street Senior Private Credit Fund II and its co-investment sidecar vehicle in 2019, said Steve Willer, chief investment officer, in the webcast.
As of Feb. 28, the actual allocation to specialty credit was 20.4%.
