Daily Feed
The commitments are part of a search for value-add, debt and opportunistic strategies.
The plan is losing a longtime member of its investment team, who will join a neighboring state pension system.
The plan chose a new discretionary real estate consultant over its incumbent and one other finalist this week.
Plan’s investment committee approved up to $115 million in alternatives commitments this month.
The fund will focus on lower middle market service industry companies.
They will be involved in all aspects of the investment process.
Carlton Chin joined the $3.1 billion Municipal Fire & Police Retirement System of Iowa as its first deputy cio in 2020 and was promoted to cio in July. He took the time to answer 5 questions with FIN News.
Endowments and foundations’ have seen substantial asset growth in recent years, “straining the system, including investment staff, IT, and various support functions,” but 71% of surveyed cios said they did not need to add more personnel.
The fund is looking to build out its alternatives allocations to align its portfolio with a new strategic asset allocation approved in June.