Nashville & Davidson County Allocates $85M to Private Credit

The Metropolitan Government of Nashville & Davidson County Employee Benefit Trust Fund approved $85M in commitments across three private credit funds at its May 23 investment committee meeting, per meeting minutes.

The pension committed $25M to Arcmont European Lending SMA, continuing its investment relationship with the manager. The Arcmont separately managed account is focused on European middle market-lending, and since its inception, Nashville & Davidson County has invested $125M.

The pension also allocated $30M each to two funds, Anchorage Credit Opportunities Fund IX and AGC Sound Mark RECIF fund. Anchorage Credit Opportunities Fund IX is a distressed opportunistic credit strategy. Nashville & Davidson County has previously invested in three funds of this series and one short credit Fund. AGC Sound Mark RECIF fund is an open-end real estate credit strategy. The commitment will be contingent on Sound Mark raising an additional $70M by December 31.

According to Dakota data, the Nashville & Davidson County Trust Fund manages $4.3B.

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