Credit/Private Debt
The investment board has also made up to $1.4 billion in new commitments.
The plan will target $750 million with up to 11 funds next year.
The pension system is also scheduled to review a 2026 pacing plan for private credit at this week’s board meeting.
The plan is seeking non-discretionary investment consulting services for its more than $500 million alternatives portfolio.
The retirement system will also receive private markets pacing schedules this week.
The pension system made its third commitment to private credit this year at today’s board meeting.
The transaction will more than double Clearlake Capital Group’s assets under management.
The plan also made two private credit commitments in September.
The retirement system will conduct searches for domestic and global fixed-income and domestic and emerging markets equity managers.
The firm recently held the initial close of its flagship fund as it looks to complete its $500 million fundraise for the strategy in 2026.