Taunton (Mass.) Contributory Retirement System committed a total of up to $5 million to two private credit funds.
The $407 million pension fund’s board approved commitments to Ironsides Opportunities Fund II, managed by Constitution Capital Partners, and Blue Ocean Onshore Fund II, managed by EnTrust Global, at its Feb. 28 meeting, recently released meeting minutes show.
The minutes did not provide specific commitment amounts for each fund. The pension fund issued an RFP in July to get a "broader understanding of the landscape" of private credit managers, said Kevin Condy, director of research at investment consultant Dahab Associates, at the time.
Dahab Associates assisted with the search.
As of Dec. 31, the pension fund’s actual allocation to alternative assets was 2.4%; the target is 5%.
