Private Equity
The plan approved a new target asset allocation at its board meeting today.
The plan made two private equity commitments as it looks to commit to 11 total funds.
The new partners focus on technology, business services, healthcare and investor relations.
The plan rehired its longstanding consultant and will begin a search for a defined contribution consultant next month.
The plan will commit $50 million between two to three partnerships this year.
The plan added one firm on watch for underperformance and two more for organizational concerns.
The new hire is responsible for the firm’s deal sourcing team and business development strategy for new platforms and add-on acquisitions.
A Southern state plan added a commitment with an existing private equity fund-of-funds manager and approved a real estate commitment at its board meeting last week.
The group is searching for ways to help private equity firms fully realize their growth potential.