Credit/Private Debt
The European private debt manager, which focuses on the middle market space, will use the investment to accelerate growth initiatives.
The plan concluded its investment consultant and private investment consultant searches that began last year, retaining its general consultant and hiring a new private investment consultant.
The plan is seeking global and international small-cap and small- to mid-cap equity managers after approving the RFP last week.
The retirement plan filled its new private credit allocation in the second quarter.
The plan sees market opportunity due to recent banking failures.
The hire follows a global equity structure review emphasizing alpha generation.
The plan also made an infrastructure commitment at a board meeting today.
The plan is looking to make two to three commitments in the growth equity and buyout spaces by the end of the year.
The plan committed to private equity and private debt for pacing purposes.
The plan will consider first-time investments in private equity and private credit strategies.