Credit/Private Debt
The plan is searching for a firm to provide private equity and private credit consulting services.
The retirement fund recently disclosed $60 million in total commitments across private credit and private equity.
The plan has concluded a private credit manager search that began last summer.
Many endowments, foundations and their allocators point to relatively small or medium-size private equity buyout and early-stage venture capital for returns that outpace the public markets, while private real estate, infrastructure, hedge funds and private debt, especially asset-based lending look like strong portfolio diversifiers in this year’s mercurial environment.
The firm recently held the final close of its latest private credit fund, marking its largest private credit vehicle to date.
The retirement fund received three proposals in response to an RFP issued in May 2024.
The fund close represents the firm’s largest inaugural institutional fundraise.
The fund is co-managed by Managing Partner and CIO Tony Yoseloff, Co-Deputy Managing Partner Patrick Dennis and Partner and Head of European and Asian Corporates Chris Krishanthan.
The plan also made up to $55 million in alternatives commitments in the fourth quarter.
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.