Alternatives
The fund will consider approving a recommendation from its investment consultant to allow an existing investment manager discretion to toggle between two different classes of stock.
The retirement association made 13 commitments totaling more than $900 million.
The plan will receive pacing recommendations across private equity, non-core real estate and private credit next week.
The retirement fund recently disclosed $60 million in total commitments across private credit and private equity.
The retirement system approved private equity and real assets commitments at its meeting last week.
Many endowments, foundations and their allocators point to relatively small or medium-size private equity buyout and early-stage venture capital for returns that outpace the public markets, while private real estate, infrastructure, hedge funds and private debt, especially asset-based lending look like strong portfolio diversifiers in this year’s mercurial environment.
The firm recently held the final close of its latest private credit fund, marking its largest private credit vehicle to date.
The plan added $560 million in recent commitments across private equity, infrastructure and real estate.
The plan also made up to $55 million in alternatives commitments in the fourth quarter.
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.