Oklahoma tobacco trust looking for direct lending manager

Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, is searching for one or more direct lending managers for a commitment total of $50 million to $70 million.

The $1.3 billion endowment trust fund has issued an RFP because the exposure to the private debt asset class is still below its 8% target, said Don C. Stracke, senior consultant at NEPC, the trust fund’s investment consultant, which is assisting.

As of June 30, the actual allocation to private debt was 3.4%.

The RFP is posted on NEPC’s website. Proposals are due at 4:30 p.m. PDT on Sept. 28. Finalist interviews are scheduled for Nov. 17, with a decision expected shortly thereafter.

Source: https://www.pionline.com/searches-and-hires/oklahoma-tobacco-trust-looking-direct-lending-manager