Credit/Private Debt
The plan will search for a new core-plus fixed-income firm after recent asset losses and a change in ownership experienced by its incumbent manager.
The plan added a follow-on $250 million direct ending commitment earlier this month.
The plan approved an infrastructure commitment with an existing manager and was informed of two credit commitments at yesterday’s board meeting.
The plan approved committing $90 million across three private debt managers.
The plan also disclosed a pair of private markets commitments.
The fund added two private debt strategies to its portfolio as it has looked to increase allocations to private markets following approval of a revised target allocation last year.
The plan removed a manager structure constraint for its return-seeking fixed-income portfolio and approved a value-add real estate commitment with an existing manager this month.
The plan is set to receive pacing plans for private equity, real assets and credit this week.
The plan hired two firms to provide alternative asset consulting at its board meeting last week.
The plan will also target more $720 million to alternative funds in 2023.