Iowa Municipal Commits $20M to Private Credit Fund

The Municipal Fire & Police Retirement System of Iowa (MFPRSI) has committed $20 million to the Bain Capital Credit Global Direct Lending 2021 fund.

Staff approved the recommendation at the August 18 board meeting, according to meeting minutes. 

The System’s consultant, Marquette, assisted with the recommendation.

As of June 30, 2022, the $3.1 billion Retirement System has an actual and target allocation to private credit of 1.6% and 2% respectively.

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Written By: Koncheng Moua, Director of Data Management and Strategy

Koncheng Moua is the Director of Data Management and Strategy at Dakota.