Private Equity
The plan also made slight adjustments to its asset allocation at its meeting this week.
The plan is seeking private equity and private credit strategies for a projected mandate of $20 million to $25 million.
The state pension fund approved the hire at today’s board meeting, expanding its existing agreement with its alternatives investment consultant.
The governor vetoed legislation that would have mandated the state’s public universities invest a portion of their endowments into innovation funds, finding it did not adequately recognize the independent fiduciary responsibilities of the institutions.
The board also recently made a private equity commitment.
The global alternative assets manager has closed PA Secondary Fund V with approximately $3 billion in total committed capital.
Estancia Capital Partners Fund III and affiliated investment vehicles secured $367 million in commitments.
The pension plan disclosed $575 million in private equity and private credit commitments at yesterday’s board meeting.
The firm recently closed its oversubscribed inaugural fund at its hard cap after garnering commitments from endowments, family offices, foundations and funds-of-funds globally over the course of the last year.
The retirement association selected a firm to split its 6% allocation to liquid credit at today’s board meeting.
