Credit/Private Debt
The retirement system re-upped with a European credit manager this week.
The asset allocation changes reflect the retirement system’s progress in moving toward its current long-term policy.
The pension plan recently hired three private debt managers as part of an ongoing search.
The plan will discuss adding a maiden allocation to private credit.
The search is being planned to potentially replace an existing manager.
The retirement system hired two firms to manage its 51% private markets portfolio.
The two commitments were made for pacing purposes.
The plan is considering a 5% dedicated allocation to the new asset class.
The retirement system approved the RFP at yesterday’s board meeting.
The retirement system will launch the search soon for pacing purposes.