Stable Asset Management has entered into a definitive agreement to sell a portfolio of minority, net revenue-share interests in alternative asset managers.
The plan tapped an active manager after voting to move to an all-active approach for the fixed-income portfolio to achieve better long-term return prospects.
The treasury has issued its RFP seeking fixed-income investment managers for its $1.6 billion liquidity and $4.4 billion reserve accounts.
The plan’s investment committee will recommend up to $60 million across two credit funds at the next board meeting.
The firms have enhanced their partnership to expand access to institutional-quality private market capabilities across wealth and retirement channels.
The city will interview a pair of finalists to provide investment management and advisory services.
Silver Rock Capital Partners has closed on investable capital in excess of $4 billion for its latest private credit capital solutions strategy.
The state retirement system also disclosed several private markets commitments at last week’s board meeting.
The city is seeking information on firms that can assist in managing and providing guidance on its investment portfolio.
The recommended hire of an additional active core-plus manager comes after the decision to implement an all-active approach.