North American Pensions Maintain Private Credit Bets
Major pension funds like CalSTRS are sticking to private credit despite market stress. Officials cite long-term goals for maintaining their allocations.
Major pension systems across the United States and Canada are maintaining their allocations to private credit despite recent market turbulence and redemption pressures. This steadfastness underscores the asset class's perceived long-term value and its significant role in funding retirement plans for public sector workers.
The California State Teachers’ Retirement System (CalSTRS), which manages over $400 billion in assets, continues to hold positions in private credit funds managed by BLUE OWL CAPITAL INC. CalSTRS is also identified as the largest investor in BLUE OWL CAPITAL CORP, a publicly traded business development company (BDC) managed by the same firm.
