Credit/Private Debt
The retirement association recently committed $25 million each to private equity and credit commitments.
The public trust fund based is expected to consider new private credit commitments to a direct lending strategy and a special situations strategy at this week’s board meeting.
A new survey finds institutional investors remain optimistic about private markets and alternative asset classes’ ability to buoy their portfolio despite economic uncertainty.
The retirement system committed to three existing manager relationships and one new manager relationship in the first quarter.
The plan hired a multi-sector credit manager after increasing its target to the asset class last year.
The plan also terminated an emerging markets equity manager for performance reasons.
The retirement system disclosed infrastructure and credit commitments totaling $300 million at today’s board meeting.
The search will focus on diversified private debt strategies.
Private credit has recently sparked increased demand among the institutional investment industry and although barriers remain for females wanting to make progress in the growing asset class, Women’s History Month provides a platform to commemorate and celebrate the wins and connections women have made.
The fund’s general investment consultant is recommending a private credit commitment to an evergreen strategy targeting an initial fundraise of $1 billion to $2 billion.