Credit/Private Debt
The asset allocation changes reflect the retirement system’s progress in moving toward its current long-term policy.
The pension plan recently hired three private debt managers as part of an ongoing search.
The plan will discuss adding a maiden allocation to private credit.
The search is being planned to potentially replace an existing manager.
The retirement system hired two firms to manage its 51% private markets portfolio.
The two commitments were made for pacing purposes.
The plan is considering a 5% dedicated allocation to the new asset class.
The retirement system approved the RFP at yesterday’s board meeting.
The retirement system will launch the search soon for pacing purposes.
The retirement system approved infrastructure and private credit commitments at a meeting today.