The Police Mutual Aid Association (PMAA) has decided to commit $70 million (80 billion won) to U.S. private debt funds  (PDFs) in an effort to secure stable returns in an ultra-low interest rate environment.

The savings fund for South Korean police officers recently selected two foreign managers and allocated each 40 billion won, South Korean news outlet Financial News reported on Tuesday (October 13), citing investment banking industry sources.

According to the report, the investment is part of an “opportunistic” strategy of lending funds to companies whose financial conditions have temporarily deteriorated but still have strong fundamentals.

PMAA has invested in overseas PDFs in recent years, as it can reap relatively high dividend income despite increased volatility in financial markets.

The association committed $20 million each to U.S.-based Benefit Street Partners and European credit investment firm Park Square Capital in 2016, in its first investments in global private debt funds. Two years later Antares Capital LP, a leading U.S. middle-market lender, raised $30 million from PMAA for a PDF. (Reporting by Kyoungho Lee)