Credit/Private Debt
The fund exceeded the firm’s original target by nearly 40% and doubled the predecessor vehicle’s fundraise.
The pension plan disclosed more than $500 million in private markets commitments made in recent months.
The retirement system selected three absolute return managers and two real estate managers for possible inclusion within its investment lineup last week.
The retirement system hired five managers as part of a newly approved asset allocation yesterday.
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.