The Pennsylvania Municipal Retirement System (PMRS) is actively evaluating private credit as part of its US-focused investment strategy while seeking broader asset diversification, according to a report by Bloomberg citing CEO Timothy Reese.
Managing over $3.5bn in assets, the pension fund is conducting due diligence on private credit fund managers and assessing their capital deployment strategies, Reese told Bloomberg Television. Speaking at the Milken Institute Global Investors’ Symposium in Hong Kong, he highlighted the fund’s ongoing efforts to enhance returns through alternative investments.
While PMRS maintains a predominantly domestic portfolio, it is also exploring opportunities in Asia as a diversification play amid rising geopolitical uncertainties. Investors continue to navigate the impact of US President Donald Trump’s “America First” policies, which have introduced additional risks to the global economic landscape.
Reese noted in a separate interview with Bloomberg News that the fund’s exposure to China remains immaterial.
