The Oklahoma Tobacco Settlement Endowment Trust Fund (“The Trust” or “TSET”) is seeking to invest assets in U.S. Direct Lending strategy offered in an Open-ended (so-called Evergreen) commingled fund vehicle suitable for U.S. tax-exempt investors and a strategy that will target outperformance versus both a relevant market benchmark and a peer group of comparable direct-lending funds. The benchmark will be jointly agreed to by the manager and the Trust following selection & contracting.  Only open-ended commingled vehicles will be considered.  All investment managers are prohibited from directly purchasing securities issued by a tobacco company and must be acknowledged as part of contracting. This restriction will not apply to the underlying holdings of commingled funds, mutual funds, private market partnerships and/or exchange traded funds. The Trust currently has US Direct Lending exposure in closed-end commingled funds. The Board is targeting a commitment of approximately $60-$100 million to one or more U.S. Direct Lending managers offering open-end funds.  Proposals are due by 4:30 pm Eastern Time on June 7th, 2024.

In order to receive a copy of the RFP, including minimum qualifications and response instructions, please email request to [email protected].