Credit/Private Debt
The search will not include the plan’s two incumbent firms.
The retirement system has hired four global multi-sector fixed-income and three passive equity managers in recent months.
The plan also received a private credit pacing plan at its meeting yesterday.
The retirement system made commitments to one firm for private equity and private debt.
Six foundations were among 16 early investors to commit to a Western investment manager’s second private credit fund, which aims to provide U.S. farmers with tailored loans.
The firm has expanded its platform to the Middle East with the appointment of a managing director and head of middle east distribution.
Funding for the new domestic small-cap growth mandate comes from a passive investment with RhumbLine Advisers.
The plan hired two managers at its board meeting earlier this month.
The manager lost its director of direct lending last month.
The global asset manager has held the final close on its latest private credit fund, which targets junior debt investments in middle market companies in the U.S.