Credit/Private Debt
The plan made a decision in its opportunistic credit search after an RFP process initiated in March.
The credit firm recently closed its inaugural fund, which provides capital for small business owner-operators, above its target fundraise.
Plan will hear presentations from four general investment consultant firms at its meeting next month.
The RFP will seek one or more short-duration high-yield fixed-income managers.
The plan will hear a geographically diverse private debt strategy next month.
The pension system added a new commitment to an existing credit manager relationship last week.
The plan will continue their discussions on potentially investing in private credit at a meeting next month.
Plan staff made a $9 million private credit co-investment in May.
The new fiscal year 2024 asset allocation policy will increase the fixed-income targets for four of the plan’s systems.
The global asset manager has entered a definitive agreement to acquire full control of the London-based debt firm, which will see its 45-person team integrated into the asset manager’s European private debt platform.