Credit/Private Debt
The retirement system will discuss implementing its new strategic asset allocation with manager searches.
The pension system also reviewed a private equity pacing plan last week and sent out an invitation only multi-asset credit RFP in April.
The retirement system interviewed two private credit managers at its March investment committee meeting.
A gradual increase to the direct lending space through the first quarter reflects private credit’s growing popularity within the industry, which expects continued growth as more institutions look to the asset class to diversify their portfolios.
The plan considered five total direct lending strategies before making a commitment in February.
The retirement system will interview two sets of finalists next month.
The pension fund is scheduled to review a draft RFP at next Thursday’s board meeting.
The state fund has committed to a new private credit manager relationship.
The retirement system previously did not have consultant coverage for private equity, private debt and private infrastructure.
The selections conclude RFPs issued by the commonwealth in early 2024.