Bank Loan
The plan hired a manager to implement its maiden 3% target to private debt as part of a new asset allocation policy in March.
Plan re-upped with another commitment to an existing real estate manager.
The plan expects to conclude the search process in the third quarter.
The plan expects to issue the RFP later this month and make a selection in the third quarter.
The plan hired a new manager to handle its bank savings fund option as it provides a more stable income source.
The plan hired a new manager in its bank loan search after interviewing three finalists today.
The new semi-liquid multi-sector manager will handle a roughly $250 million mandate for the plan.
Plan made private equity and real estate commitments totaling approximately $250 million at this week’s meeting.
The new liquid multi-sector manager will handle a roughly $375 million mandate for the plan.
The plan approved the search today due to underperformance from it its incumbent bank loan manager.