Credit/Private Debt
The plan hired four credit managers to handle a total of $31 million at its February board meeting.
The plan hired two international equity managers to handle up to $700 million total last week following a search from 2022.
The plan’s real estate committee considered two credit commitments totaling $125 million earlier this month.
The plan’s private markets consultant will present a private debt portfolio update this week.
Plan staff is considering searches in small-cap equity and multi-asset credit searches later in 2023.
The plan made a pair of private credit commitments and one private equity commitment last month.
Plan added a 3% target to private credit as part of broader asset allocation changes approved today.
The manager has trailed its benchmark for two consecutive quarters.
The plan may hire two direct lending managers next month.
The selection will conclude a core-plus fixed-income search for a replacement manager.
