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Op-Ed: Public pensions bet underfunded retirements on private credit's riskiest corner
1+ week, 3+ hour ago (1106+ words) [https://www.prnewswire.com/news-releases/equable-institute-analysis-us-public-pensions-reach-best-funded-status-since-2009--but-remain-1-13-trillion-short-302832640.html]Equable Institute reported on July 23 that America's state and local pension systems have reached their best-funded status since 2009. Trustees will read that as vindication for a decade of reaching into private credit for extra yield. I spent years underwriting…...