Credit/Private Debt
The pension plan established a 5% target to the private credit asset class at a meeting this week.
The hire precedes a likely second manager hire in the asset class within the next year.
The foundation is seeking an investment consultant to advise its investment portfolio as it also explores increasing its private equity and debt allocations.
The firm has signed a definitive agreement to sell a stake in its private credit business to another firm to create a stand-alone private credit asset management platform.
The firm is targeting a $2.5 billion close for its second energy and power infrastructure credit fund.
The retirement system will commit $150 million across the two asset classes next year.
H.I.G. WhiteHorse Middle Market Lending Fund IV closes with $5.9 billion in assets.
The investment board disclosed a domestic small-cap core equity manager termination and private markets commitments totaling $95 million today.
The retirement association also terminated an emerging market fixed-income mandate at today’s board meeting.
Institutional and individual investors are continuing to embrace private markets strategies in search of diversification and higher returns amid ongoing market volatility and geopolitical uncertainty, according to a new report.