Credit/Private Debt
Higher interest rates and inflation has put pressure on the companies that undergird the private credit markets and nonprofits investors should be mindful of the of the potential cyclical risks.
The plan made $650 million in total private markets commitments during the first quarter.
The plan recently terminated three equity managers and made private markets commitments totaling $95 million.
The pension plan will consider approving a private debt manager search and a new 2025 fiscal year asset allocation policy for its four systems this week.
The pension plan approved three commitments with an existing manager relationship last week.
The plans approved commitments with two existing manager relationships last week.
The search is for senior direct lending managers.
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.
