Credit/Private Debt
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.
The manager recently closed its second private credit impact investment fund after nearly doubling the fundraise for the preceding fund in the series.
The fund has launched a search for investment managers that are raising capital for investment funds that align with its impact areas of diverse entrepreneurship, economic mobility and innovation.
The retirement system will also see its executive director retire on June 30.
Mavik Real Estate Special Opportunities VS2 closed with $685 million in total commitments.
The pension fund terminated a pair of underperforming international equity managers last month.
The retirement system committed to the third fund in a series with an existing fund manager.
The plan has lined up 2026 searches for real assets, real estate and private credit managers.
The plan also disclosed $30 million in second quarter alternatives commitments at this week’s board meeting.
The fund exceeded the firm’s original target by nearly 40% and doubled the predecessor vehicle’s fundraise.