New Hampshire Retirement System's Independent Investment Committee voted to make a $100 million private credit commitment to Ares Senior Direct Lending Fund III, managed by Ares Management.
The commitment was made at the committee’s June 11 meeting. Ares is an existing relationship for the Concord-based pension fund.
The committee also approved a five-year renewal of a BlackRock S&P 500 separate account, which contains $2.3 billion, or 19.5% of the $11.8 billion pension fund.
Separately, the board of trustees voted June 11 to keep the annual assumed rate of return at 6.75%.
The trustees reported that as of March 31, for the first nine months of the current fiscal year, the pension fund’s net return was 8.1% compared with a benchmark of 10.1%.
