The California Public Employees' Retirement System added over $7 billion to alternatives at the tail end of 2021, including $4.4 billion in private credit strategies, with a niche focus on direct lending strategies.
The $490 billion pension fund allocated to a total of eight opportunistic strategies within credit in the fourth quarter of 2021. Wilshire Associates was also selected as the private debt board consultant at the investment committee’s March 14 meeting. Private debt became a new asset class last year as part of a new broad-approved strategic asset allocation.
Credit . . .
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