Credit/Private Debt
The retirement system selected three absolute return managers and two real estate managers for possible inclusion within its investment lineup last week.
The retirement system hired five managers as part of a newly approved asset allocation yesterday.
The retirement system also added two private credit commitments in the third quarter.
Three finalists were interviewed at a board meeting this week.
The plan will commit $100 million total to three private credit funds next year.
The plan is seeking distressed debt, junior/mezzanine, asset backed and/or direct lending private debt strategies.
The search follows the plan’s decision to introduce a 5% dedicated private credit target allocation yesterday.
The four finalists will present in January for a $55 million mandate.
The retirement system added a maiden 5% private credit target as part of a newly approved asset allocation in September.
The fund approved issuing RFPs for infrastructure strategies and private equity strategies in December at its November board meeting.