LGPS Central, Wolverhampton, England, committed $225 million to middle-market senior loan fund Churchill Fund V, managed by Churchill Asset Management.
The fund provides senior and unitranche loans to companies in non-cyclical industries in the core U.S. middle market.
"Our selection of Churchill Fund V as an investment opportunity is, in our opinion, based on several compelling factors. Churchill's experienced team, scale and unique origination strategy allows it to avoid the more competitive aspects of the middle market, resulting in increased influence, lower leverage, and favorable pricing," Mike Gillespie, investment director, private credit at LGPS Central, said in a news release Wednesday.
Churchill integrates ESG considerations into its underwriting and portfolio management processes, LGPS said in the release.
LGPS Central is a pool of U.K. local authority pension funds, which have £55 billion ($70 billion) in combined assets.
A spokesman could not be reached to provide further details.