Ohio School Employees Retirement System, Columbus, approved a new commitment and a new investment totaling $125 million.
The $17.5 billion pension fund's investment committee approved a commitment of $75 million to direct lending fund Barings European Private Loan Fund IV, and an investment of $50 million in Pinnacle Natural Resources, a hedge fund of funds managed by Pinnacle Asset Management, at its Nov. 16 meeting, according to meeting highlights emailed by spokesman Tim Barbour.
SERS previously committed $150 million to Barings European Private Loan Fund III in 2021. There is no record of any prior investments with Pinnacle Natural Resources.
As of Sept. 30, the actual allocations to global private credit, and opportunistic and tactical investments were 6.3% and 3.1%, respectively; their respective targets are 5% and zero.
