Kentucky Retirement sets aside $500m for private debt

The Frankfort-based Kentucky Retirement Systems (KRS) is accessing direct-lending financing opportunities structured for middle-market companies across a variety of industries with a new $500 million allocation to a well-known Chicago private equity fund of funds.

Adams Street Partners latest private credit offering has gotten buy in from KRS with a $250 million commitment for the Adams Street Partners Private Credit Fund II and another $250 million allocated to a co-investment sidecar vehicle.

The $38 billion firm launched its private credit business back in 2016 with the hiring of Oaktree Capital . . .

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