Credit/Private Debt
The retirement association disclosed $60 million in private markets commitments following closed session deliberations.
The plan also eliminated its target to TIPS as part of an overall asset allocation change.
The search will have a particular focus on European and global funds to increase the pension fund’s exposure outside of the U.S.
The plan approved credit and real assets commitments at today’s board meeting and will consider a private equity commitment next month.
The retirement system also recently made private markets commitments totaling $16.5 million.
The retirement system is seeking one or more direct lending managers.
The plan hired four private credit managers as part of a search at today’s board meeting.
The pension fund approved new private markets commitments across private equity, credit and real assets at today’s meeting.
The plan is considering a 4% dedicated allocation to private investment grade credit.
The emerging markets equity manager had been placed on watch for performance reasons over the summer.
