Asset Study/Review
A state trust fund is considering a recommendation from its consultant to diversify its public credit portfolio in one of its funds.
The plan also added a new 6% target to private credit.
The new asset allocation also eliminated the plan’s hedge funds portfolio.
The retirement system also approved new target allocations for its public equity managers at today’s investment committee meeting.
The university reduced its stake in the credit platform of an alternatives investment manager as investors are becoming concerned with redemption requests and gating withdrawals.
The plan will also search for private debt and infrastructure managers later this year.
The plan also added a pair of commitments to a new private equity manager relationship.
The plan terminated two managers as part of a non-U.S. equity structure study.
The pension plan eliminated its floating rate bonds target as part of a newly approved asset allocation last month.
The retirement system is also slated to vote on its general investment consultant search next month.