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One of two private credit commitments approved earlier this year has failed in negotiations.
The plan is seeking a firm to provide fiduciary investment advisory services.
Institutional investors have become increasingly attracted to opportunistic and special situations investments across the broad real estate and credit sectors due to interest rate hikes and capital market dislocation, which the industry finds will likely continue into 2024.
The city council expects to award a contract at its Jan. 22 meeting.
A total of three funds were hired as part of a private credit pacing plan.
When it comes to asset managers’ integration of ESG factors, larger firms tend to have a leg up on their smaller peers when it comes to the amount of resources available, according to inaugural analysis from investment consultant Callan.
More than half of defined benefit pension plans are bearish on the next year in the markets, according to investment consultant NEPC’s most recent survey.
The plan last conducted a similar search in 2019 that resulted in a consultant switch.
The plan approved two non-core real estate strategies at a meeting today.
The authority launched a search in May for its investment portfolio.