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ISERS staff outlines private‑credit pipeline; Sixth Street funds, asset‑based finance and sports investments under review
Summary
Staff briefed trustees on private‑credit candidates to fulfill an 8% target, including an asset‑based finance fund and a proposed Sixth Street diversified credit vehicle; trustees discussed sports‑franchise investments as a novel opportunity within opportunistic allocations.
ISERS investment staff presented an informational memo on May 21, 2025 describing private‑credit options to help fulfill an 8% diversified credit target for the pension fund and discussed a potential Sixth Street strategy that would combine structured lending and minority stakes in sports and live‑entertainment franchises.
The item was informational; trustees were not asked to approve a new commitment at the meeting but staff sought feedback and authority to continue due diligence on candidate funds.
Brian summarized the background: an asset‑liability study completed in October 2023 supported reallocating 2% from international equity into private…
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