Vermont Pension Investment Commission, Montpelier, committed $50 million to Kennedy Lewis Capital Partners Master Fund IV on behalf of the $6.8 billion Vermont State Retirement Systems, according to Andy Cook, an investment analyst with the Vermont State Treasurer’s Office.
The commitment to the private and alternative credit fund managed by Kennedy Lewis Investment Management was approved at VPIC's Dec. 10 meeting, Cook confirmed in an email.
The overseer of Vermont’s three largest pension funds previously committed $50 million each to two predecessor funds in the series, according to meeting documents.
As of Oct. 31, VPIC’s allocation to private and alternative credit was 10%. Its target is 11%.
The three pension funds that make up the Vermont State Retirement Systems are the Vermont Municipal Employees’ Retirement System, Vermont State Teachers’ Retirement System and Vermont State Employees’ Retirement System.
