Board approves two-year extension for Crescent Direct Lending fund; ISERS exposure $9.93M
The board consented to a two-year extension to allow Crescent Direct Lending Fund II to complete wind-down activity without new capital calls; the fund is 90% wound down with 10 remaining investments and ISERS exposure reported at $9,932,000.
The full story
The Imperial County Board of Retirement voted to approve staff's recommendation to consent to a two-year extension for Crescent Direct Lending Fund II to permit orderly realization of remaining loans. Danny Sullivan of Sarity Partners explained the fund is a 2017 vintage and is primarily a direct-lending vehicle; no new capital will be called during the extension.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
or