Credit/Private Debt
The pension plan approved a new asset allocation policy that introduced a new asset class and eliminated two existing asset classes last week.
The pension plan made a $20 million credit commitment in the third quarter.
The joint venture will provide flexible private credit solutions that support the needs of lower and middle market businesses.
The retirement board has approved a fiscal year 2025 real assets investment plan that discontinued its search for two new open-end core real estate managers.
The commitments conclude an RFP process and were made for pacing purposes.
The pension plan approved four commitments totaling $195 million at last week’s investment committee meeting.
The plan swapped out an underperforming international equity manager at a meeting this week.
The plan disclosed new private equity, credit and real estate commitments at a board meeting today.
The endowment will call a special meeting to select a firm in its U.S. direct lending manager search after eliminating one firm from a pool of candidates at its board meeting last month.
The plan committed to two private credit funds at a board meeting last week.