Credit/Private Debt
The four finalists will present in January for a $55 million mandate.
The retirement system added a maiden 5% private credit target as part of a newly approved asset allocation in September.
The fund approved issuing RFPs for infrastructure strategies and private equity strategies in December at its November board meeting.
The university also liquidated fixed-income and equity strategies to fund endowment spending and university advancement payouts.
The strategy recently closed above its $250 million to $275 million target fundraise after receiving commitments from 180 investors.
The plan is also expected to reduce positions in U.S. small-cap and explore enhanced indexing as parts of an overall global equity portfolio roadmap discussed last week.
The search is open to general and private markets consultants.
The investment board has also made up to $1.4 billion in new commitments.
The plan will target $750 million with up to 11 funds next year.
The pension system is also scheduled to review a 2026 pacing plan for private credit at this week’s board meeting.