The Kentucky Public Pensions Authority (KPPA), which oversees the Kentucky Retirement System, has disclosed a recommendation for a $150 million commitment to Adams Street Partners Senior Private Credit Fund III.
The Adams Street fund will invest primarily in directly originated first lien senior secured loans of middle-market companies.
The recommendation was presented in meeting materials for the March 1 board meeting.
KPPA previously committed $250 million to Fund II and an additional $250 million to a co-investment side car vehicle.
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