Bank Loan
The retirement system’s upcoming search will comply with state procurement laws.
The search follows a private markets pacing schedule presented to the retirement system in January.
The plan interviewed a total of five finalists at yesterday’s board meeting.
The plan also received a private markets pacing plan in January.
The pension plan will be looking to fill a new 4% target to the sub-asset class.
The plan has awarded approximately $1.2 billion across three managers.
The retirement system will also launch a search for private credit managers next year.
The plan began screening for several bond strategies earlier this summer.
The retirement plan is screening for managers in the securitized credit, short-term investment grade and bank loan asset classes.
The retirement association is considering the two asset classes to replace its commodities portfolio.