Credit/Private Debt
A Midwestern pension plan will consider approving a defensive equity search at this month’s board meeting.
The plan agreed to advance RFPs for an illiquid credit emerging manager program and passive fixed-income manager.
They will source investment opportunities, support portfolio companies and scale the firm’s business development companies, the private credit fund and the secured lending fund.
The plan made five alternatives commitments in July.
Plan will relaunch a search for private credit after reevaluating initial criteria and formally discontinued a bank loan search with no current plans to relaunch.
The plan makes a specialty finance investment and redeems from a real estate fund.
Plan’s investment committee approved a pair of real assets commitments subject to full board approval next week.
Plan will retain its existing investment consultants as the result of a search launched last quarter.
Plan will recommend a single firm for hire next month following semifinalist interviews scheduled for this week.
The plan hired two new core fixed-income managers after terminating its incumbent for performance reasons.