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Pennsylvania Municipal (PMRS) → Ares Global Multi-Asset Credit Mandate

Field-by-field provenance and archived filing evidence for one of the 5 open public preview records on Pennsylvania Municipal (PMRS)’s profile — accessible without registration.

Institutional Allocator

Pennsylvania Municipal (PMRS)

Public Pension Plan · Hub: Pennsylvania

Recorded Commitment Amount

$145.0M

Historical commitment · As of December 2025

$145,000,000 USD (raw: 145000000.0)

Strategy & Vintage

Private Credit

2025 Vintage

Cited Archive Anchor

pdf_archive/Pennsylvania_Municipal_PMRS/PMRS_2024_ACFR.pdf#page=59

PDF p.59/106 · Printed p.59

Fee Schedule Cited · Commitment & Multiples Not on Cited Table

Open Cited Filing (pmrs.pa.gov) Single-Page Excerpt (PDF p.59) Full-Res Image (PDF p.59)

Table-Semantics Notice · Mixed Field-Level Provenance

Mixed Provenance — Fee Table Excerpt Does Not Substantiate Commitment / Performance Fields

The archived PDF excerpt below (pdf_archive/Pennsylvania_Municipal_PMRS/PMRS_2024_ACFR.pdf, PDF Viewer Page 59 of 106 · Printed Page 59) is titled “PMRS 2024 Annual Comprehensive Financial Report - Investments | 59” (reported in exact_or_unspecified USD). It corroborates Pennsylvania Municipal (PMRS)’s participation and fee/profit-sharing line items for Ares Global Multi-Asset Credit Mandate, but does NOT substantiate the commitment amount ($145.0M), fund vintage (2025), or TVPI/DPI figures. See the Field-Level Provenance table below for each field’s distinct source attribution.

Field-Level Provenance & Substantiation Breakdown

Each claim is evaluated independently against the cited table’s headers and units. Different fields on a single record may originate from distinct schedules.

Entity Type: Legal Fund Vehicle · As-of 2025-12-31

Record Field	Recorded Value	Value Type	Substantiation Status	Field-Specific Source Citation & Audit Note
Fund / Legal Vehicle	Ares Global Multi-Asset Credit Mandate	Reported	Table-Substantiated	pdf_archive/Pennsylvania_Municipal_PMRS/PMRS_2024_ACFR.pdf (PDF Page 59 of 106 · Printed Page 59) Matched on cited page in 'PMRS 2024 Annual Comprehensive Financial Report - Investments \| 59'. Row excerpt: "Ares Global Multi-asset Credit 638,650 565,935"
Disclosed Commitment Amount	$145.0M (raw: 145000000.0)	Missing / Unverified	Wrong Table Cited (Fee Schedule)	pdf_archive/Pennsylvania_Municipal_PMRS/PMRS_2024_ACFR.pdf (PDF Page 59 of 106 · Printed Page 59) Cited PDF page is a management-fees/expenses schedule and does not contain a Commitment column.
Fund Vintage Year	2025	Reported	Not Yet Page-Verified	pdf_archive/Pennsylvania_Municipal_PMRS/PMRS_2024_ACFR.pdf (PDF Page 59 of 106 · Printed Page 59) Retained from allocator disclosure / fund vintage registry without substituting filing year.
Net IRR	Not disclosed	Missing / Unverified	Not Yet Page-Verified	Not disclosed Net IRR is not disclosed for this record (never defaulted to 0 or 1.00x).
TVPI / Net Multiple	Not disclosed	Missing / Unverified	Not Yet Page-Verified	Not disclosed TVPI / Net Multiple is not disclosed for this record (never defaulted to 0 or 1.00x).
DPI (Realized Multiple)	Not disclosed	Missing / Unverified	Not Yet Page-Verified	Not disclosed DPI (Realized Multiple) is not disclosed for this record (never defaulted to 0 or 1.00x).

Archived Filing Excerpt — PDF Page 59 of 106 (Printed Page 59)

Table Class: Fees And Profit Sharing

Archived file PMRS_2024_ACFR.pdf · Detected Table Title: PMRS 2024 Annual Comprehensive Financial Report - Investments | 59 · Table Units: exact_or_unspecified (USD). Full horizontal row highlighting retains surrounding headers, units, and footnotes.

Download Single-Page PDF

Detected Table Columns: Headers not parsed automatically — inspect full page image below

Matched Horizontal Row Text: Ares Global Multi-asset Credit 638,650 565,935

Archived File Integrity Checksum (SHA-256): 7b8901b628a822b1…b142ce2dd3f2 — SHA-256 is a file-byte integrity check confirming the archived file has not changed since retrieval. It does NOT prove factual or extraction accuracy.

Archived filing excerpt from PMRS_2024_ACFR.pdf, PDF viewer page 59 (printed page 59), highlighting row for Ares Global Multi-Asset Credit Mandate

All 5 Open Public Source Trails for Pennsylvania Municipal (PMRS)

Click any preview record below to inspect its primary source trail without registration

Open Trail #1 of 5 CAFR / Board Packet · PDF p.59

Hardman Johnston Global Advisors International Growth Mandate

Multi-Strategy · 2025 $210.0M

Open Trail #2 of 5 CAFR / Board Packet · PDF p.59

Xponance Emerging Manager Multi-Strategy Equity Mandate

Multi-Strategy · 2025 $155.0M

Open Trail #3 of 5 CAFR / Board Packet · PDF p.59

Ares Global Multi-Asset Credit Mandate

Private Credit · 2025 $145.0M

Open Trail #4 of 5 CAFR / Board Packet · PDF p.59

Copeland Capital Management Small Cap Dividend Growth Mandate

Multi-Strategy · 2025 $130.0M

Open Trail #5 of 5 CAFR / Board Packet · PDF p.59

Channing Capital Management Small Cap Value Mandate

Multi-Strategy · 2025 $120.0M

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