Maine Public Employees Retirement System, Augusta, approved a commitment of up to $50 million to AG Direct Lending Fund IV Annex.
The $18.8 billion pension fund's board approved the commitment to the direct lending fund managed by Angelo Gordon & Co. at its meeting Thursday, said James Bennett, chief investment officer.
As of Sept. 30, the pension fund's actual allocation to alternative credit was 5.1%; the target is 7.5%.
The commitment is subject to final due diligence, legal review and negotiations.
