Absolute Return

A Virginia-based pension plan shifted assets from its private credit portfolio and added two commitments at its board meeting yesterday.

The plan made five alternatives commitments in July.

They will be responsible for managing the firm’s emerging market debt total return funds as well as generating ideas and themes for implementation across all emerging market debt funds.

His responsibilities have been assumed by other team members, according to a spokesperson.

The plan approved investing $7 million in a credit hedge fund at its board meeting yesterday.

A Northwestern pension plan hired an absolute return bond manager to replace its terminated mandate with hedge fund-of-funds manager Castine Capital Management at yesterday’s board meeting.