Alternatives
The pension system made its first traditional private equity buyout commitments in years at today’s board meeting.
The conference has entered into a private capital deal in a partnership between two private investment firms that will help with revenue generation, investment opportunities and provide a credit line.
The retirement association is seeking a firm to review and evaluate its discretionary private credit and private equity portfolios.
The fund recently with more than $850 million in capital commitments from existing and new investors, exceeding its $800 million target.
The fund approved a commitment to an existing private equity manager as it is approximately $675 million underweight its target to the asset class.
The retirement system made five private markets commitments totaling $160 million last year.
The commitments include two new relationships for the plan.
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 plan’s investment committee will recommend up to $60 million across two credit funds at the next board meeting.
The terminations include three underperforming managers.
