Alternatives
The plan was mulling a 5% target to either private equity or private credit, ultimately approving the latter.
The fund approved a venture capital commitment to a biotech firm last quarter.
The retirement fund made two commitments last month as part of its annual pacing plan.
The retirement system also approved placing an international equity manager on watch due to a personnel departure.
The public utility fund approved a venture capital commitment earlier this month.
The termination comes after the plan reduced its risk parity allocation as part of a new policy approved in April.
The plan approved the search at a board meeting yesterday for pacing purposes.
The retirement plan interviewed three consultant finalists for its alternatives portfolio.
The retirement system made investments of $100 million each to “fixed-income replacement” and infrastructure funds this week.
The retirement system will issue an RFP for lower middle market buyout funds.
