Credit/Private Debt
The commitments include private credit, infrastructure, farmland and real estate.
The commitments to three firms represent new relationships.
The interviews follow searches conducted after approval of a new asset allocation mix this year.
The state investment management board is searching for a long-only separate account manager for the asset class.
Direct lending would represent a new strategy for the plan.
The retirement system hired two active domestic fixed-income managers and approved a structure for its new private debt portfolio today.
The search will be for two managers to handle up to $483 million.
The retirement system agreed to launch an evergreen private debt manager search and terminate three managers as part of a new asset allocation policy.
The fund has already deployed over 50% of its commitments.
The retirement system will consider hiring two active domestic fixed-income managers and approving a structure for its new private debt portfolio this week.