Credit/Private Debt
The retirement system also added two private credit commitments in the third quarter.
Three finalists were interviewed at a board meeting this week.
The plan will commit $100 million total to three private credit funds next year.
The plan is seeking distressed debt, junior/mezzanine, asset backed and/or direct lending private debt strategies.
The search follows the plan’s decision to introduce a 5% dedicated private credit target allocation yesterday.
The four finalists will present in January for a $55 million mandate.
The retirement system added a maiden 5% private credit target as part of a newly approved asset allocation in September.
The fund approved issuing RFPs for infrastructure strategies and private equity strategies in December at its November board meeting.
The university also liquidated fixed-income and equity strategies to fund endowment spending and university advancement payouts.
The strategy recently closed above its $250 million to $275 million target fundraise after receiving commitments from 180 investors.