Infrastructure
The plan made natural resources and real estate commitments last month and will consider a 2023 private markets pacing plan this week.
The watch status is due to a co-portfolio manager’s abrupt departure from the firm.
The plan expects to approve a recommendation in the third quarter.
The fund approved maiden infrastructure fund commitments in the fourth quarter as the strategies provide good yields with stable growth, strong protections against inflation and a low correlation with other asset classes.
The plan adopted a new asset allocation that includes a maiden target to the asset class.
The plan concluded its domestic small- to mid-cap equity manager search and made private markets commitments last week.
The plan concludes a search that began in February.
The plan will first issue RFPs for global infrastructure and tactical asset allocation managers.
The plan added up to $1.625 billion in new commitments at last week’s meetings.
The trust fund added private equity and private infrastructure commitments as part of the buildout of illiquid assets in its portfolios.