Louisiana State Police Retirement System, Baton Rouge, committed up to $10 million to Blackstone Private Credit Fund, said Margaret Corley Michel, acting executive director.
It is the $1.1 billion pension fund's third commitment to a Blackstone fund, Ms. Michel said.
The pension fund's previous commitment was $10 million to Blackstone Strategic Partners IX, which the board had approved in January 2021.
The Blackstone Private Credit Fund focuses on investing in first lien senior secured loans and underwrites private credit loans for large multibillion-dollar companies, according to the pension fund's May 27 investment committee meeting minutes.
As of April 30, the pension fund's actual allocation to alternatives was 17.2%; the target is 15.5%.
Investment consultant UBS Institutional Consulting assisted.
