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Plan will continue an ongoing review of potential alternative consulting options at next week’s board meeting.
The plan moved its domestic large-cap value equity mandate with a newly established manager.
The commitments to private equity and private debt total $146 million.
He will work to deepen CIFC’s relationships with clients and lead capital formation efforts.
They will join the firm’s plus fixed-income team and are based in London.
He works with entrepreneurs and leaders across the portfolio to leverage technology through product-driven initiatives.
He is responsible for management of discretionary portfolios and researching capital markets.
The process, known as a tender offer, is among several options GPs have to deliver liquidity back to LPs at a time when distributions and fundraising are slowing.
Amid rising uncertainty, institutional investors are moving towards defensive sectors like industrial, according to James Jacobs, head of real estate for Lazard’s private capital advisory group.
The market rout is exposing the vulnerability of the US public pension system. Inflation and the tight labor market will force the worst-hit states into some hard decisions.