Hedge Funds
The system will discuss an implementation plan for the new asset allocation policy next month.
The retirement system disclosed infrastructure and credit commitments totaling $300 million at today’s board meeting.
The pension plan approved a new asset allocation policy that introduced five targets in the fourth quarter.
The retirement system made a $25 million private equity commitment last month.
The plan also terminated a fixed-income manager last month.
The plan made a hire in its non-discretionary hedge fund consultant search earlier this year.
New research finds fixed-income hedge funds are growing in popularity among global institutions that seek higher yields without liquidity.
The retirement system also changed firms for private infrastructure and private real estate consulting services in awarding contracts that also included hedge fund, private credit and private equity.
The retirement system added $160 million in new private equity and hedge fund allocations in recent months.
The retirement system is also watching a hedge fund manager due to underperformance.