Non-U.S. & Global Fixed-Income
The plan increased its private credit target and added a commitment within the non-core fixed-income portfolio yesterday.
The plan will hire multi-asset credit managers as part of the new structure and commit $170 million total to real estate in fiscal year 2023.
Plan is seeking private debt managers to each handle an up to $100 million mandate and approved new asset allocation policies last week.
Program is seeking up to two firms to handle four investment options.
Plan approved a new asset allocation policy that addresses the current marketplace.
Plan’s decision to move all of its fixed-income assets in-house will reduce its annual fees.
Plan’s passive investment exposure will now be with one manager.
Plan hired a new emerging market debt manager to handle a $10 million allocation today.
