Alternatives
The joint venture will provide flexible private credit solutions that support the needs of lower and middle market businesses.
The pension fund approved the search for a maiden private markets consultant at a board meeting earlier this month.
The organization pivoted its asset allocation toward domestic large-cap equities as part of revisions and also added a real assets strategy.
The pension fund also concluded an emerging market debt manager search with a hire at today’s board meeting.
The retirement fund also disclosed approximately $1.6 billion in alternatives commitments made in July.
The plan disclosed new private equity, credit and real estate commitments at a board meeting today.
The institution will look to increase its commitments to private real assets over the next two years after adding a private real assets strategy within its endowment at its investment committee meeting last week.
The endowment will call a special meeting to select a firm in its U.S. direct lending manager search after eliminating one firm from a pool of candidates at its board meeting last month.
The firm has added investment vehicles from a leading global alternatives investment manager to its alternative investments access platform, which provides RIAs, broker-dealers and their clients access to private markets investments.
A new study shows roughly a quarter of Ivy League or elite endowments’ private equity allocations are unfunded, meaning the institutions may need to rely on their liquid holdings within public stocks and bonds.