Pittsburgh Comprehensive Municipal Pension Trust Fund approved a total of $40 million in its first two commitments to private credit funds.
The $1.1 billion pension fund committed $20 million each to Brightwood Capital Fund V, a closed-end fund managed by Brightwood Capital Advisors, and evergreen fund Partners Group Private Credit Strategy Class A, according to an Oct. 8 news release.
There is currently no target allocation to private credit listed in the pension fund’s most recent investment report.
Investment consultant Marquette Associates assisted.
Jennifer Gula, executive director, could not be immediately reached for further information.
