Pennsylvania Municipal Pension Exploring US Private Credit Funds

The Pennsylvania Municipal Retirement System is looking at private credit as a US domestic strategy, while it seeks asset diversification, its chief executive officer said in an interview with Bloomberg Television.

The pension administrator, managing more than $3.5 billion in assets, says it’s studying private credit fund managers and where they’re investing, Timothy Reese said on the sidelines of the Milken Institute Global Investors’ Symposium in Hong Kong on Monday.

While the majority of the pension fund’s investments are in domestic markets, it’s looking to Asia for diversification while investors navigate rising geopolitical tensions. US President ...