PGIM announced today its intention to acquire a majority stake in the credit firm as well as its affiliates.
The search stems from the addition of a new 5% target to the asset class established earlier this year.
The plan approved an infrastructure commitment at its investment committee meeting this week.
Leanne Schmitt joined as a managing director after working at Intech since 2003.
The plan’s investment committee also approved a private debt commitment last week.
It’s TPG’s second fund focused on providing flexible capital solutions to the technology industry.
The plan approved a pair of commitments at today’s board meeting.
The plan conducted a similar search in 2020 and hired NEPC.
The plan, which did not previously utilize a consultant, selected a firm last month.
Chris Grogan was promoted to portfolio manager while retaining his responsibilities as director of investment consulting.