Credit/Private Debt
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.
The fund will consider adding international equity, private equity co-investment and private credit secondaries strategies to its portfolio this week.
The plan is looking to create a broadly diversified private credit portfolio.
The plan took action on two search reports provided by its general investment consultant at its board meeting this week.
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.