Credit/Private Debt
The retirement system also hired three firms in its diversifying strategies manager searches yesterday.
The university reduced its stake in the credit platform of an alternatives investment manager as investors are becoming concerned with redemption requests and gating withdrawals.
The firm will manage separate mandates for the city’s pension plan and OPEB Trust.
The retirement system made five private markets commitments totaling $160 million last year.
The commitments include two new relationships for the plan.
The retirement system will also consider hiring managers in its diversifying strategies manager searches this week.
The board recently made private credit and private equity commitments totaling $208.5 million.
The plan will also search for private debt and infrastructure managers later this year.
The plan’s investment committee will recommend up to $60 million across two credit funds at the next board meeting.
The plan will issue a private credit RFP in July that will be open to diversified, direct lending and senior secured strategies.
