Fixed-Income
The city is looking for a firm to manage its long-term and short-term portfolios.
The global asset manager has agreed to acquire a CLO team and platform based in Europe.
The manager will handle a new 3% long Treasury target allocation.
The plan added two core-plus fixed-income managers to the portfolio and made 11 alternatives commitments in the first quarter.
The plan sees fixed-income opportunities in the decarbonization of the economy.
The trust fund revised the target asset allocation for its reserve pool at an April meeting, increasing its targets to fixed-income and international equity, following a study on its investment policy and practices.
The plan agreed to utilize a fund-of-one manager to implement its maiden private credit allocation and hired a short-duration fixed-income manager this week.
The plan’s investment committee also approved a private debt commitment last week.
The firm appointed a head of fixed-income, Americas to oversee its active fixed-income platform and develop actively managed solutions to meet investor needs.
The plan also named two semifinalists in its general investment consultant search.