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Oklahoma Tobacco pumps $70 million into direct lending
Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, made two new direct lending commitments totaling $70 million.
The $1.3 billion endowment trust fund committed $50 million to AG Direct Lending Fund IV, managed by
Angelo Gordon & Co., and $20 million to Monroe Capital Private Credit Fund IV, managed by
Monroe Capital Management, said Lisa Murray, chief investment officer.
The trust fund issued an RFP in September to bring direct lending closer its target allocation of 8%. Angelo Gordon and Monroe Capital were the only finalists.
As of June 30, the actual allocation to private debt was 3.4%.
Investment consultant NEPC assisted.