Infrastructure
The retirement system agreed to hire a new core fixed-income manager at today’s meeting.
The pension plan recently made $1.5 billion in total commitments and terminated two existing managers.
The retirement system will conduct a search for three fixed-income mandates.
Under today’s conditions, many nonprofits and allocators are looking at other macro trends — especially the advancement of artificial intelligence technologies and concomitant demand spike for energy and infrastructure — that bode well for their alternatives allocations.
The retirement fund has posted an RFP for infrastructure managers to handle a $50 million to $80 million allocation.
Plan added a real assets commitment to a prior manager relationship this week.
The fund approved an infrastructure commitment with a new investment manager earlier this month.
The firm will continue to provide private equity and real asset consulting services for the plan following its rehire last week.
The plan hired Albourne as its new strategic investments consultant and brought on Aksia for its private credit portfolio.
The fund expects to receive a recommendation to commit $120 million to a new infrastructure manager at this week’s board meeting as it’s underweight its target to the asset class.