Private Equity
The retirement system will consider hiring two active domestic fixed-income managers and approving a structure for its new private debt portfolio this week.
The pension fund is seeking one or more private equity secondaries products diversified by underlying fund strategy and geographic focus.
The selected firm will manage a private equity portfolio totaling $400 million over five years.
The plan added a follow-on private equity commitment at a board meeting last week.
The global asset manager has closed its third vehicle investing in high-growth technology companies across North America, Europe and Israel with $3 billion in committed capital from new and existing investors.
The commitments include follow-on and first-time fund commitments for the plan.
The plan will consider issuing a general investment consultant RFP due to an upcoming contract expiration.
The plan will withdraw prior to the fund’s closure in December.
The new investment consultant was hired last week following a search that was relaunched in May.
The pension plan agreed to increase its global equities target by reducing its global private equity target from Oct. 1 through Dec. 31, 2024.