Credit/Private Debt
The plan also terminated an international small-cap equity manager for performance reasons.
The strategy exceeded its initial $1.25 billion hard cap.
The pension plan made two credit commitments totaling $60 million in the second quarter.
The plan hired two multi-asset credit managers at a board meeting today.
The pension plan established a 5% target to the private credit asset class at a meeting this week.
The hire precedes a likely second manager hire in the asset class within the next year.
The foundation is seeking an investment consultant to advise its investment portfolio as it also explores increasing its private equity and debt allocations.
The firm has signed a definitive agreement to sell a stake in its private credit business to another firm to create a stand-alone private credit asset management platform.
The firm is targeting a $2.5 billion close for its second energy and power infrastructure credit fund.
The retirement system will commit $150 million across the two asset classes next year.