The changes will harmonize the investment grade fixed-income portfolios between the board’s three investment plans.
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.