Searches And Hires
The pension plan was notified of two commitments totaling $175 million last week.
The retirement system will shift planned searches for bank loan and high-yield managers into a single search for multi-asset credit managers.
The pension plan also expects to launch its executive director search next week.
The hire followed a consultant search report and finalist presentations held last month.
The institution will consider financing agreements up to a total of more than 10% of the assets under management of two nascent companies created at the institution.
The Latina-led venture capital firm recently closed its latest fund after garnering several commitments from foundations, two endowments and a religious institution’s investment team.
The plan could allocate up to $500 million to U.S. or global long-only strategies.
The foundation is conducting the search for standard due diligence purposes and its incumbent advisor is allowed to rebid.
The fund will consider committing additional capital to two new managers within its endowment at its February board meeting.
The city currently works with Meeder Investment Management.