FLORIDA: The Florida State Board of Administration (SBA) is looking to sell a bundle of private credit stakes worth as much as US$4bil in what would be one of the largest deals of its kind, according to people with knowledge of the matter.
The pension fund is looking to offload between US$3bil and US$4bil as it seeks to cut exposure to higher-yielding opportunistic credit and invest more in mainstream direct lending, said the people, who asked not to be identified discussing private matters.
