Real Assets
The retirement system agreed to hire a new core fixed-income manager at today’s meeting.
The pension plan recently made $1.5 billion in total commitments and terminated two existing managers.
The retirement system approved private markets commitments at its board meeting today.
The retirement system will also see its executive director resign on Friday after less than a year in the role.
The search is due to the impending contract expiration of its incumbent.
The firm’s new managing director and head of asset management joins from Blackstone.
The pension plan has not had consultant coverage for private equity, private debt and private infrastructure.
The fund approved 2025 pacing plans across private equity, private credit and private real assets last month.
The retirement system will conduct a search for three fixed-income mandates.
Under today’s conditions, many nonprofits and allocators are looking at other macro trends — especially the advancement of artificial intelligence technologies and concomitant demand spike for energy and infrastructure — that bode well for their alternatives allocations.