The fund received commitments from a diverse base of new and longtime investors.
The plan is seeking a firm to advise on future private credit investments proceed to make investments.
The plan will also receive presentations for potential real estate and private credit commitments at its next meeting.
The plan is looking to review other options after working with its incumbent for many years.
The plan recently voted to increase its target allocation to diversifying strategies.
The school system is seeking consulting services on behalf of its 457 and 403(b) retirement plans.
The inaugural fund has already made seven investments to date.
HPS Specialty Loan Fund VI, together with parallel funds and accounts, closed with $21.1 billion.
The firm cleared the initial hard cap for the fund.
The plan rehired firms and made one new hire in its search launched last summer.