Credit/Private Debt
The firms have created a separately managed account that allows financial advisors to allocate to private equity, private credit and real assets.
The pension plan disclosed commitments totaling $1.5 billion in the fourth quarter.
The pension plan committed up to $65 million total to private credit and private markets managers yesterday.
The plan also received a private markets pacing plan at its board meeting today.
The retirement association made 13 commitments totaling more than $900 million.
The manager had been on watch since 2024 due to underperformance.
The retirement system also considered approving a 2026 private markets pacing plan last week.
The retirement plan approved a new long-term asset allocation policy and 2026 private markets pacing plan in the fourth quarter.
The plan will receive pacing recommendations across private equity, non-core real estate and private credit next week.
The plan has asked its consultant to come back with U.S. mid-cap growth and value manager options.