RidgeLake Partners’ passive minority investment will provide Gridiron Capital with long-term capital to support its ongoing growth.
The investment advisor will serve for a three-year term.
The retirement system hired two active domestic fixed-income managers and approved a structure for its new private debt portfolio today.
The retirement system agreed to launch an evergreen private debt manager search and terminate three managers as part of a new asset allocation policy.
The fund has already deployed over 50% of its commitments.
The pacing plan calls for between $130 million and $160 million in new private equity commitments next year.
The hire concludes an investment advisor RFP search launched in August.
The retirement system will consider hiring two active domestic fixed-income managers and approving a structure for its new private debt portfolio this week.
The fund closed at its hard cap of $5 billion in limited partner commitments.
The pension plan opted to extend its general investment consultant contract for one year while it searches for a new executive director and cio.