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A Midwestern pension plan approved a new fixed-income portfolio structure today.
Plan disclosed $412.5 million in recent alternatives commitments.
The plan will use active management in the large-cap value space.
The plans rehired the consultant, which was the only bidder to an RFP issued this summer due to its contract expiration.
The investments are the plan’s first in the private credit space.
The plan’s investment consultant is recommending discussions on areas such as real estate, infrastructure, private equity and direct lending.
Portland, Ore.-based TCM specializes in small-cap and small- to mid-cap growth investing for both institutional and retail investors.
Plan will review better complements within the actively managed portion of its international equity portfolio.
The plan rehired one incumbent equity manager and moved another manager’s mandate to a passive portfolio.
The plan hired a new manager after rescinding the selection of its first-choice last month.