Credit/Private Debt
The pension plan will aim to commit $3.1 billion total to private equity and opportunistic/diversified strategies in fiscal year 2025.
The plan rehired firms and made one new hire in its search launched last summer.
The pension plan recently made $1.2 billion in total commitments across its credit strategies, private equity and real assets portfolios.
The plan also disclosed two staff-delegated investments at a meeting yesterday.
The hire concludes an RFP search launched as part of an investment consultant strategy in March.
The pension plan approved three commitments totaling $175 million and a private credit pacing plan this week.
The pension plan committed up to $30 million to an existing manager relationship.
The fund is currently searching for opportunistic credit managers for its portfolio after consolidating its public credit portfolio into a passive U.S. aggregate bond index in the first quarter.
The search is being conducted as part of a previously approved investment consultant strategy.
The pension plan approved a private debt manager search and new 2025 fiscal year asset allocation policy for its four systems last week.