HPC’s passive minority investment will help L Catterton develop new strategies.
The plan’s investment committee hired an emerging markets core equity manager and approved two credit commitments last week.
The fund exceeded its fundraising target of $125 million.
The plan hired two international equity managers to handle up to $700 million total last week following a search from 2022.
The strategic partnership will allow First Sentier to offer new asset classes and structures to clients.
The plan’s real estate committee considered two credit commitments totaling $125 million earlier this month.
The plan will hold a second round of finalist interviews in its consultant search next month and committed to an existing private equity manager in February.
The plan terminated its active international value equity manager in December due to underperformance.
The city expects to award a contract on April 20.
The plan agreed to conduct two domestic equity manager searches to potentially replace existing mandates with the same firm.