The retirement association will consider appointing a new ceo this week.
The acquisition will strengthen Patria Investments’ local presence and investment capacity in North America.
Gordon McKemie will lead the development of a dedicated leveraged loans capability within the firm’s fixed-income platform.
The new hire will officially join the firm on April 20.
The retirement system committed to an existing private debt manager relationship in the third quarter.
The deferred compensation plan recently replaced a domestic small-cap value equity manager that had been on watch since 2024.
The hire concludes a search launched last year following two staff departures.
The firms have created a separately managed account that allows financial advisors to allocate to private equity, private credit and real assets.
The pension plan disclosed commitments totaling $1.5 billion in the fourth quarter.
The pension plan committed up to $65 million total to private credit and private markets managers yesterday.