Bank Loan
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.
The plan agreed to advance RFPs for an illiquid credit emerging manager program and passive fixed-income manager.
The plan is searching for a firm to handle up to $220 million.
Plan will issue an RFP for bank loan managers following approval at this week’s board meeting.
Plan will relaunch a search for private credit after reevaluating initial criteria and formally discontinued a bank loan search with no current plans to relaunch.
