Alternatives
The city made private equity commitments on behalf of its retirement plan and OPEB trust in June.
The plan is seeking firms that offer North American-focused fund-of-funds.
The searches follow asset class reviews by the plan’s general investment consultant.
The firm has closed its oversubscribed third growth equity fund with more than $275 million in commitments.
The plan will also receive presentations for potential real estate and private credit commitments at its next meeting.
The pension plan will aim to commit $3.1 billion total to private equity and opportunistic/diversified strategies in fiscal year 2025.
The plan rehired firms and made one new hire in its search launched last summer.
The pension plan recently made $1.2 billion in total commitments across its credit strategies, private equity and real assets portfolios.
The plan also disclosed two staff-delegated investments at a meeting yesterday.
The fund is currently searching for opportunistic credit managers for its portfolio after consolidating its public credit portfolio into a passive U.S. aggregate bond index in the first quarter.