Wyoming State Loan and Investment Board, Cheyenne, approved two new commitments to evergreen private credit funds managed by Angelo, Gordon & Co. and Atalaya Capital Management.
The board at its Oct. 6 meeting approved commitments to AG Direct Lending Evergreen Fund and Atalaya Asset Income Fund Evergreen, said Patrick Fleming, chief investment officer, in an email.
Mr. Fleming said the board does not disclose the amounts of commitments.
According to meeting materials, the commitments were recommended due to the board's ongoing efforts to bring the private credit asset class up to target in the various funds it oversees.
In April 2021, the board approved a new target of 7% to private credit for the $4.4 billion Common School Permanent Land Fund and $131 million Higher Education Endowment Fund and a new target of 5% to private credit for the $8.9 billion Permanent Wyoming Mineral Trust Fund, $2.4 billion Workers' Compensation Fund, $653 million Hathaway Scholarship Fund, $244 million Permanent Land Fund and $30 million University Permanent Land Fund.
The board oversees $23.8 billion in permanent funds, as well as two non-permanent funds, which include the state's $5.2 billion in operating funds.
