Private Equity
The plan bolstered its private real assets portfolio with three commitments today.
The hire concluded a domestic small-cap value equity replacement search from earlier this year.
The pension plan is recommending removal of exposure to Clearlake Capital Group within Pathway Capital Management’s portfolio.
The endowment is seeking firms with open-end, evergreen funds to manage an approximately $75 million allocation and will give preference to firms with experience in direct investments, co-investments and secondary transactions.
The oversubscribed fund raised $1.1 billion.
The plan finalized private equity and private credit commitments totaling up to $75 million in February.
The retirement association was notified of three private equity commitments last week.
The retirement system made six commitments totaling $265 million this week.
The pacing amounts were approved in conjunction with an adjusted asset allocation.
The plan also hired two credit managers in the fourth quarter.