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A foundation based in the South has named a new cfo to manage its finances and investment pool.
The firm will acquire 100% of the credit manager in a deal that expands its offerings into the high-yield bond and leveraged loan markets.
The plan will soon issue a new RFP after COVID disrupted last year’s search.
Plan added more than $1.5 billion in new alternatives commitments in the third quarter.
The previous executive director resigned in February.
The plan approved new commitments and announced its new executive director at a board meeting today.
The plan made five commitments in closed session and added a senior portfolio manager.
A Mid-Atlantic plan disclosed three recent commitments and the termination of a fixed-income manager at yesterday’s board meeting.
A Northwestern fund made commitments totaling roughly $1 billion.
The current CEO will stay on as a portfolio manager on the multi-sector bond team.