Credit/Private Debt
The plan conducted a liquid credit manager search after approving a new asset allocation policy earlier this year.
The plan also appears to have reissued its private markets consultant RFP.
The university is seeking an investment manager to take primary accountability for its private investment portfolio, which makes up 40% of its long-term investment portfolio.
The retirement fund also adopted a new long-term strategic asset allocation.
The plan will hear presentations from 12 total private credit finalists this month.
The plan approved a new long-term asset allocation that includes a maiden 4% target to private credit at its board meeting today.
The trust fund approved new international equity, private equity co-investment and a private credit secondaries investments during its board meeting last week.
Nonprofit investors should look for niche private credit opportunities as they can provide portfolio diversification and strong yields with less beta market risk than mid-market direct lending strategies, which represent the lion’s share of the private credit universe.
The retirement fund made commitments totaling $2.7 billion in August.
The plan also narrowed its general investment consultant search to two finalists.
