Credit/Private Debt
The plan adopted a new asset allocation that also eliminated risk parity and more than doubled its hedge fund target this week.
Plan staff will conduct on-site visits with six private debt firms next month.
The agency selected a West Coast-based nonprofit to build and implement a green energy fund following an RFP process from the start of the year.
The commitments include a $300 million commitment to a separately managed account focused on private credit emerging managers.
The pension plan considered approving a $20 million credit commitment today.
The pension plan’s investment committee approved four commitments totaling $275 million last week.
The pension plan made $512.9 million in total private equity commitments and $90 million in total real estate commitments in the second quarter.
The fund is seeking a single platform to handle a minimum 3% allocation following search approval at today’s board meeting.
The plan added $10 million to senior direct lending across two commitments last month after making two similar commitments one month earlier.
The plan disclosed recent private equity, private credit and real estate commitments.