Vermont Pension Investment Commission, Montpelier, committed $75 million to the TPG AG Asset Based Credit Evergreen Fund, according to Katie Green, VPIC’s deputy chief investment officer.
The overseer of Vermont’s three largest pension funds approved the commitment to the private credit fund at a VPIC meeting March 25, Green said.
VPIC has committed to previous TPG funds, including a $50 million commitment to TPG Angelo Gordon Credit Solutions Fund III in July.
As of Feb. 28, VPIC’s actual allocation to private credit was 9.9%; its target is 11%.
VPIC also voted to rehire RVK as its investment consultant after issuing an RFP in February. The RFP drew five interested firms, including RVK.
VPIC oversees the Vermont Municipal Employees’ Retirement System, Vermont State Teachers’ Retirement System and Vermont State Employees’ Retirement System, which collectively make up the $6.9 billion Vermont State Retirement Systems.
