Credit/Private Debt
The plan committed to two funds following finalist interviews this week.
Plan added $250 million in new commitments across the second quarter.
The board terminated three managers to “harmonize” the equity portfolios between its plans.
The plan added three private credit commitments to move closer to its 6% target allocation.
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.
