Alternatives
The plan also approved liquidating its sole emerging market debt manager at a meeting today.
The fund expects to hear recommendations on adding private credit, venture capital and public fixed-income managers over the next quarter and a half.
The retirement system disclosed recent private equity and infrastructure commitments from the beginning of the fourth quarter.
The firm hired a senior v.p. within its alternatives consulting group to implement private equity portfolios, including providing direct partnership evaluations, direct co-investment evaluations and fund-of-funds searches.
The pacing plans call for a total of $835 million across the two asset classes.
The retirement fund is seeking multiple managers to handle approximately $350 million in assets.
The $20 million commitment results from an ongoing search in the space.
The vehicle closed at its hard cap and was oversubscribed with investors, including current and former management team members, foundations, diversified financial institutions, university endowments and family investment offices.
The firm has appointed an operating partner to help identify and support new investments in wealth and asset management.
The fund will consider adding a new private equity manager within its trust fund portfolio following a presentation from the firm at its board meeting this week.
