Aflac Global Investments has acquired a stake in San Francisco-based lower middle-market direct lender Tree Line Capital Partners.
The plan stayed in-house to replace a retiring Christopher Ailman, whose last day with the plan is June 30.
The investment firm returned client assets as of April 30.
The search for a manager to handle $30 million was approved at a board meeting last week.
The plan will halve its hedge fund target as it bolsters its U.S. fixed-income portfolio.
The plan will issue the RFP due to the contract expiration of the incumbent.
The plan selected the firm to handle roughly $9 million following finalist presentations at today’s board meeting.
The plan’s board would prefer not to conduct an RFP and instead gather data informally.
The plan has gone across the globe to the New Zealand Superannuation Fund to hire Stephen Gilmore as its next investment head.