Private credit firm Altriarch Asset Management (Altriarch) has secured a $70m commitment from the State of Wisconsin Investment Board (SWIB) – $20m for the firm’s Specialty Finance Strategy, and $50m as seed capital for a new strategy.
The Speciality Finance Strategy, which was launched in August 2023, seeks to deploy capital through a network of secured finance operators across the United States. The new strategy, meanwhile, will be structured to complement Altriarch’s current capabilities, according to a press release.
Altriarch’s Managing Partner and Co-CEO, Danielle Brown, commented, “This investment underscores the continued confidence that institutional investors, like SWIB, have in our team and strategies. We are dedicated to delivering what we believe are attractive risk-adjusted returns in the illiquid credit market through disciplined underwriting and strong risk management practices.”
SWIB manages the assets of the Wisconsin Retirement System, the State Investment Fund, and other state trust funds. As of 30 June, SWIB managed more than $160bn of total assets, with approximately 85% representing WRS assets.
As of 31 March, actual private equity and private debt allocation of the pension system’s core trust fund was 19.4%.
