Credit/Private Debt
The plan was mulling a 5% target to either private equity or private credit, ultimately approving the latter.
The retirement fund made two commitments last month as part of its annual pacing plan.
The pension fund also reached the range for this year’s pacing plan for the asset class with a recent $50 million commitment.
The retirement system made investments of $100 million each to “fixed-income replacement” and infrastructure funds this week.
The retirement system is looking to invest in the asset class for the first time.
The plan interviewed a total of six strategies last week.
The pension fund’s board approved up to $550 million across two commitments at a meeting today.
The retirement system will split a mandate between two firms following finalist interviews held this week.
The retirement system also disclosed commitments totaling roughly $2.5 billion at the meeting.
