Industry News
The new portfolio manager joined the plan this month from the California State Teachers’ Retirement System.
The pension plan agreed to keep its executive director on paid administrative leave through June at Friday’s board meeting.
He will rejoin the firm’s global private finance group after previously serving as co-head of the North American group.
The pension fund also hired a private markets analyst earlier this year.
Aflac Global Investments has acquired a stake in San Francisco-based lower middle-market direct lender Tree Line Capital Partners.
Private credit manager Brinley Partners has hired Rex Chung as a partner responsible for the firm’s investor relations and capital formation activities.
Fortress Investment Group and Mubadala Investment Company, through its wholly owned asset management subsidiary Mubadala Capital, have completed the acquisition of 90.01% of the equity of Fortress from SoftBank Group Corp.
With limited hours in the day, timing is important for allocators to be conscious of when seeking new firms, while emerging managers can benefit from knowing one’s audience, according to a recent webinar.
A portfolio manager overseeing several bond funds and another manager overseeing the global asset manager’s quantitative solutions team are set to retire next year.
The firm, which focuses on property-backed investments, has closed its seventh flagship fund above its target fundraise with 27% of all capital coming from nonprofits.