Credit/Private Debt
The plan is looking to create a broadly diversified private credit portfolio.
The plan took action on two search reports provided by its general investment consultant at its board meeting this week.
The pension plan approved a new asset allocation policy that introduced a new asset class and eliminated two existing asset classes last week.
The pension plan made a $20 million credit commitment in the third quarter.
The joint venture will provide flexible private credit solutions that support the needs of lower and middle market businesses.
The retirement board has approved a fiscal year 2025 real assets investment plan that discontinued its search for two new open-end core real estate managers.
The commitments conclude an RFP process and were made for pacing purposes.
The pension plan approved four commitments totaling $195 million at last week’s investment committee meeting.
The plan swapped out an underperforming international equity manager at a meeting this week.
The plan disclosed new private equity, credit and real estate commitments at a board meeting today.