Credit/Private Debt
The $27 million in assets will be used for liquidity purposes.
The plan will discuss potential real estate and infrastructure allocations at its August board meeting after opting to redeem from its core real estate manager yesterday.
The plan amended its five-year asset allocation plan to include a maiden target to tactical opportunities and approved three pacing plans in alternatives asset classes last week.
The search will be for a separate account manager to handle $400 million.
The plan is looking to make a maiden private debt commitment of up to $50 million.
The plan will consider three pacing plans at its board meeting this week and recently added a private equity commitment with an existing manager.
The plan introduced a 5% target to private debt and restructured its U.S. fixed-income and both U.S. and non-U.S. equity portfolios last week.
The plan added two commitments totaling up to $80 million in the first quarter.
The commitment appears to represent a new relationship for the plan.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.