Credit/Private Debt
The pension fund approved up to $650 million in new private markets commitments at a meeting today.
The retirement system will interview six managers at a special board meeting next month.
The retirement system is conducting the search to “assess the feasibility” of establishing a private markets emerging manager program.
The pension system also discussed a potential private equity pacing plan that calls for $80 million to $90 million per year to reach its 11% target.
The retirement system made $60 million in total commitments at a board meeting this week.
The fund added multi-asset credit and international equity investments alongside an infrastructure and real estate fund-of-one vehicle within its portfolio at a recent board meeting.
The plan added three new contracts and retained others for investment consulting services.
The plan is replacing the consultant following a review at last week’s board meeting.
The plan established a dedicated real assets target of up to 3%.
The retirement system added $860 million across three new commitments in May.
