The borough is seeking a firm to provide investment management services for its pension funds.
The plan approved investing $7 million in a credit hedge fund at its board meeting yesterday.
The plan will interview two private credit managers next month as part of its annual pacing plan.
The plan selected a new investment consultant last week, replacing an incumbent it has been working with since 2009.
The plans are evaluating how to address the move of LSIA’s passive equity team to new firm Yousif Capital Management.
The plans are seeking record keeping as well as third-party administrative services.
The plan made commitments to infrastructure, private equity and venture capital at a meeting this week.
The plan committed up to $100 million total to two real estate debt funds at its investment committee meeting yesterday.
The plan had been expected to begin the search consistent with its administrative review policy.
Upheaval in the markets and our lives due to the COVID-19 pandemic led to a search for investment opportunities by institutional investors – with the credit markets offering a beacon of hope for strong returns during a turbulent time.