Benefits & Executive Compensation News

New York Teachers Pension Commits $100m to Direct Lending Fund

Jan. 29, 2020, 3:04 PM

The New York State Teachers’ Retirement Systems has closed a new commitment of up to $100 million to a direct lending fund, according to investment committee meeting minutes.

  • The private credit vehicle, H.I.G. Whitehorse Principal Lending Fund LP, focuses on direct lending opportunities to lower middle-market “off-the-run” sponsor-backed businesses as well as larger non-sponsored companies, the minutes said
  • The pension fund, which has $122.5 billion in total assets, has $1.9 billion in active private credit commitments
  • “Institutional interest in private debt has grown significantly over the last five years due to the attractive yields attainable in the sector on...
To read the full article log in. To learn more about a subscription click here.