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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...
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