The retirement fund disclosed $85 million in recent commitments across private equity and real assets.
The acquisition of the global fixed-income emerging manager will strengthen Allspring’s presence, particularly in emerging markets.
Dominic Marshall will take on the president role in addition to his cio duties a part of the firm’s long-term succession planning.
The fundraise increases total private credit strategy assets to $15 billion.
The fund surpassed its target and predecessor fund with $1.9 billion in total commitments.
The manager had been placed on watch for performance reasons in the fourth quarter.
The retirement fund will reissue a general investment consultant RFP after selecting a new firm for the role last month.
The new managing director will lead the firm’s investor relations and fundraising efforts.
The organization’s office of investment management has issued an RFI seeking information on general consulting services to assist in investment managers’ searches and other services.
The latest fund more than doubled the fundraise of its inaugural fund, which closed in 2022.