Credit/Private Debt
A Southern state plan will conduct a manager search as part of a newly approved global equity structure.
The plan approved credit and real assets commitments with potentially new managers.
Plan concluded recent private equity and private debt searches with a pair of commitments to each asset class.
One will focus on commercial mortgage-backed securities and the other will focus on commercial real estate.
The plan terminated two existing managers and added commitments totaling roughly $912 million in October.
The plan will issue an RFP seeking a maiden private credit consultant next month following approval today.
Plan’s investment committee approved a commitment to the most recent fund with an existing relationship.
The plan added a second firm to its emerging manager program and continued to build out its private credit portfolio.
The plan made three commitments in closed session at this week’s board meeting.
