Credit/Private Debt
The pension plan has not had consultant coverage for private equity, private debt and private infrastructure.
The fund approved 2025 pacing plans across private equity, private credit and private real assets last month.
The plan launched a search in September for a restructuring of its opportunistic bond portfolio.
The plan added a follow-on commitment to an evergreen fund in which it initially committed $100 million in 2022.
Under today’s conditions, many nonprofits and allocators are looking at other macro trends — especially the advancement of artificial intelligence technologies and concomitant demand spike for energy and infrastructure — that bode well for their alternatives allocations.
The retirement system anticipates hiring two to three managers for a combined mandate size of approximately $1.4 billion.
The retirement fund disclosed commitments totaling $3.1 billion in November.
The team joins with five existing investment funds and $500 million in capital commitments.
The retirement system added private equity and private credit commitments in recent months.
The pension plan approved one credit and three real estate commitments totaling $180 million at yesterday’s investment committee meeting.