Credit/Private Debt
A Rocky Mountain pension plan terminated its hedge fund-of-funds manager following a ten-year forward looking asset allocation study.
The largest change was a 5% reduction to the plan’s multi-sector credit allocation.
Plan has issued an RFP for general investment and private assets consulting services after postponing a previous search in 2018.
Plan retained both private credit and hedge fund consultants following a search conducted last year.
The plan amended its strategic asset allocation targets and added a new asset class at a meeting today.
The plan approved a $100 million commitment on March 22.
Plan decided against a commitment after the two sides failed to negotiate a contract.
The plan made two private debt hires for pacing purposes this week.
A recent survey finds that endowments and foundations expect to continue increasing their allocations to alternative investments.
The plan will interview two private credit managers next month as part of its annual pacing plan.