Credit/Private Debt
A university based in the Midwest has hired a new direct lending manager for its portfolio.
A university based in a Southern state added private equity, hedge fund, private debt and public equity investments during the first quarter.
The plan approved up to $650 million in new private commitments at its board meeting yesterday.
The winner will take over a $361 million mandate.
Plan will target direct lending, structured credit, distressed and special situations, specialty finance and multi-asset strategies in a private credit search scheduled to launch this week.
Plan’s investment committee will review a proposed RFP to fill a new 3% target to the asset class.
The funds closed with a collective total of $3.6 billion in commitments.
The plan is searching for its first ever non-discretionary private markets consultant.
The commitments were made for pacing purposes.
