Alternatives
The plan approved new private credit, private equity and real estate commitments at its board meeting yesterday.
The plan approved private equity and real estate commitments as part of its 2022 pacing plan.
The reliance on alternative investments led investors and allocators to pinpoint small, niche private equity managers, short-trading hedge funds and global private debt funds as key areas to capitalize on with the goal of yielding outsized returns.
Plan terminated a domestic small- to mid-cap equity firm and redistributed assets to its existing managers.
A Virginia-based pension plan added commitments with new and existing managers in September and made several changes to its fund lineup over the past fiscal year.
The search is due to the contract expirations of its two incumbents that currently manage over $900 million.
The plan’s current emerging markets equity manager stands to lose two mandates.
The plan is swapping domestic small- to mid-cap value equity managers this month and will have further discussions on direct lending at its February board meeting.
An education system in the South approved commitments to a new hedge fund manager and an existing real estate firm within its endowment at its December board meeting.
The plan made commitments totaling roughly $245.5 million with four existing managers and one new manager in November.