The Howard County Master Trust disclosed two recent commitments, totaling $35 million, to alternatives, according to minutes from the October 18th Board meeting.
Within private credit, $20 million was committed to Orchard Global EleganTree Opportunities Fund III.
In private equity, $15 million was committed to Cortec Group Fund VIII.
General consultant, NEPC, assisted with the decision.
As of September 30, 2023, the $1.3 billion pension fund allocates approximately 14.4% to private equity with a target of 13%. And approximately 2.1% is allocated to private credit with a target of 5%.
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