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The fund will provide senior secured debt capital to middle market North American businesses.
The city will award a contract by Oct. 15.
The commitment represents a new relationship for the plan.
The plan is seeking global and international small-cap and small- to mid-cap equity managers after approving the RFP last week.
The retirement plan filled its new private credit allocation in the second quarter.
The plan’s previous director resigned in June.
The pension plan’s current manager was hired in 2016.
The Equable Institute’s State of Pensions 2023 report claims that ‘pension funds are addicted to risk.’
The county’s new investment manager will replace incumbent Sterling Capital Management.
The firm added a new head of commercial real estate debt and announced additional promotions.