The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The plan’s private equity committee received two investment recommendations earlier this month and approved two commitments in February.
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.