Credit/Private Debt
The retirement fund approved its first commitments to the private credit space after adding a maiden target to the asset class last year.
The adoption of AI technologies across the economy may yield 1-3% more annual economic growth across the U.S., requiring a significant growth in demand for energy utilities and infrastructure that bodes well for nonprofit investors with allocations to the asset class.
The retirement fund disclosed commitments totaling $4.5 billion in September.
The plan added commitments in the private equity, credit and real estate asset classes.
The pension plan has not had consultant coverage for private equity, private debt and private infrastructure.
The plan disclosed new private commitments made in recent months.
The plan recently approved establishing new targets to infrastructure and private credit.
The credit arm of an investment manager is acquiring a venture debt manager in a deal expected to close in the fourth quarter.
The plan is also conducting a consultant search for informational purposes.
The commitments include two new relationships for the council.