Bank Loan
The plan hired a new manager in its bank loan search after interviewing three finalists today.
The new semi-liquid multi-sector manager will handle a roughly $250 million mandate for the plan.
Plan made private equity and real estate commitments totaling approximately $250 million at this week’s meeting.
The new liquid multi-sector manager will handle a roughly $375 million mandate for the plan.
The plan approved the search today due to underperformance from it its incumbent bank loan manager.
The plan rehired the manager today following interviews with two other finalists.
The plan will receive a recommendation from its general investment consultant that will determine the fate of its bank loan manager.
The plan authorized the issuance of an RFP as part of a newly approved credit portfolio structure.
A plan based on the West Coast added a bank loan strategy as part of the adoption of a new asset allocation last month.
The plan terminated its sole reinsurance manager in May.
