Credit/Private Debt
The plan will commit up to $3.9 billion to private equity, private credit and real assets.
The fund approved a new strategic asset allocation to continue to move its assets toward an endowment style portfolio with private markets investment exposure.
All three searches are being conducted due to the contract expirations of the incumbent providers.
Plan approved a $7 million investment in a credit hedge fund at today’s board meeting.
Plan introduced private credit and private infrastructure target allocations and hired a domestic mid-cap value equity manager to replace its existing mandate with Wellington Management Company this week.
Plan committed $100 million total to a new credit manager and an existing real estate manager yesterday.
The plan will hear presentations on three private debt managers next month.
Plan will take a deep dive of the international equity space for potential options after placing a EAFE value firm on watch today.
Plan is seeking one to three global ex-U.S. equity managers and agreed to restructure its opportunistic and alternative fixed-income portfolios this month.
Two firms will vie for a new private credit mandate.
