Credit/Private Debt
The pension plan will consider hiring one firm to provide hedge fund, credit and real assets consulting services next week.
The plan began a search in April that excluded its two incumbent managers.
The commitments were made under the plan’s delegated authority.
The commitments were made in closed session at this week’s board meeting.
The plan made three credit-focused commitments with existing manager relationships.
The plan initially received an education on the asset class in April.
The plan will conduct a private debt search focusing on European special situations strategies and made two commitments totaling $50 million this week.
The RFP will be issued on the plan’s website “shortly.”
The plan will also receive a private credit portfolio review at today’s board meeting.
The plan also eliminated its 20% covered calls and 2.5% REITs targets.