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FUNDRAISING NEWS | October 07, 2024

BRS Commits $70M to Private Credit Strategies

Tags: Pension Funds, Searches, Private Credit, Consultants

The Boston Retirement System (BRS) has approved three commitments to private credit managers, according to recently published minutes from its August 21 board meeting. 

The commitments are part of the system’s overall 2024 private credit search, focused on credit opportunities and direct lending strategies, with the goal to make approximately $60M in allocations. In the end, the BRS board agreed to commit $50M to GoldenTree Private Credit Fund, $10M to HarbourVest Direct Lending Fund II, and $10M to 400 Capital Asset Based Offshore Fund IV.

Consultant NEPC assisted with the recommendation. 

Per Dakota data, the BRS manages approximately $7B in assets. As of June 30, the system allocated 11.3% to private equity and credit with a target of 11%.

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Written By: Helen Bascom, Marketing Associate

Helen Bascom is a Marketing Associate at Dakota.

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