Credit/Private Debt
The retirement system added $50 million to a direct lending partnership last week.
The plan has begun its search for private equity, private credit and real assets consultants.
Private credit’s increasing popularity makes for opportunity for investors as the alternatives market is expected to grow, according to a recent webinar.
The pension plan added a private credit commitment alongside private equity and real estate co-investments in July.
A university foundation based in a Western state has approved several commitments, including allocations to opportunistic credit and venture capital strategies.
The plan is expected to issue the RFPs next month.
The fund has already committed $9 billion in capital to over 165 companies to date.
The retirement system approved a commercial mortgage-backed securities commitment last month.
The plan’s current illiquid consultants will see their contracts expire.
The plan adopted a new asset allocation that also eliminated risk parity and more than doubled its hedge fund target this week.