Credit/Private Debt
The plan committed $8 million each to a private equity fund-of-funds and a managed income strategy in October.
The trust company is looking to commit $150 million to $625 million annually to alternative assets, including alternative fixed-income, hedged equity and private debt, within its endowment.
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.