Credit/Private Debt
The fund has exceeded its initial target of €2 ($2.2) billion.
The fund has hired a senior investment officer focused on private credit to help its team identify and evaluate potential investment opportunities as well as develop due diligence plans for potential investments.
The fund will review the asset allocation for its trust fund portfolio this summer after last approving a new asset allocation in July 2023.
The fund fulfilled a $100 million pacing plan for private credit this year with two direct lending commitments at a board meeting last month.
The plan is searching for a credit or equity-focused maritime shipping fund.
The retirement association recently committed $25 million each to private equity and credit commitments.
The public trust fund based is expected to consider new private credit commitments to a direct lending strategy and a special situations strategy at this week’s board meeting.
A new survey finds institutional investors remain optimistic about private markets and alternative asset classes’ ability to buoy their portfolio despite economic uncertainty.
The retirement system committed to three existing manager relationships and one new manager relationship in the first quarter.
The plan hired a multi-sector credit manager after increasing its target to the asset class last year.