Alternatives
The fund recently with more than $850 million in capital commitments from existing and new investors, exceeding its $800 million target.
The fund approved a commitment to an existing private equity manager as it is approximately $675 million underweight its target to the asset class.
The retirement system made five private markets commitments totaling $160 million last year.
The commitments include two new relationships for the plan.
The plan tapped an active manager after voting to move to an all-active approach for the fixed-income portfolio to achieve better long-term return prospects.
The plan’s investment committee will recommend up to $60 million across two credit funds at the next board meeting.
The terminations include three underperforming managers.
The fund will consider committing $50 million to an existing private equity manager within its portfolio as staff recommended adding a strategy with General Partner stakes.
The plan also added a pair of commitments to a new private equity manager relationship.
The firm hired a principal, head of capital formation and investor relations to oversee relationships with institutional and family office investors as well as set the distribution strategy for its investment products.
