Two follow-on private equity commitments approved at today’s board meeting total $30 million.
Plan defines tail hedge solutions as investments with an asymmetric positive return profile during periods of significant market stress.
Plan has issued an RFP for separate account management services to implement a private markets investment program for its OPEB trust.
The commitments include one to a first-time manager for the plan.
The plan approved private equity and credit commitments at today’s independent investment committee meeting.
The plan terminated the sole manager handling its $169 million portfolio.
Plan will schedule interviews with three direct lending managers after hearing a search report review this week.
Plan has issued a private debt RFP following approval at today’s board meeting.
Plan is seeking private credit managers to handle a new 3% allocation.
Search is for an investment analyst focused on alternative assets for two funds totaling almost $2 billion.