Credit/Private Debt
The plan also terminated an emerging markets equity manager for performance reasons.
The retirement system disclosed infrastructure and credit commitments totaling $300 million at today’s board meeting.
The search will focus on diversified private debt strategies.
Private credit has recently sparked increased demand among the institutional investment industry and although barriers remain for females wanting to make progress in the growing asset class, Women’s History Month provides a platform to commemorate and celebrate the wins and connections women have made.
The fund’s general investment consultant is recommending a private credit commitment to an evergreen strategy targeting an initial fundraise of $1 billion to $2 billion.
The firm has closed its fifth and largest dedicated aviation fund.
The plan will interview three international equity managers, including its incumbent, this summer.
The pacing plans call for a total of $105 million to private markets this year.
The retirement system also canceled its general investment consultant RFP and approved a 2025 private markets pacing plan in January.
The pension plan was notified of two commitments totaling $975 million last week.