Bank Loan
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.
The search follows a new asset allocation that includes maiden targets to corporate credit and bank loans.
The RFPs are a result of a new asset allocation approved in May.
The fund approved a recommendation from its general investment consultant to add a new bank loan manager across three of its portfolios this month.
The fund was slated to consider the addition of a new bank loan manager across its three portfolios this week to help complement existing bank loan manager allocations.
The plan also terminated a bank loan manager at its March board meeting.
