Credit/Private Debt
The plan’s board voted to commit additional funds to an existing manager and also hire a new manager for the increased allocation.
The plan has issued an RFP seeking multi-asset credit managers.
Hamilton Lane predicts that evergreen funds will grow faster than the overall rate of public markets over the next five years.
The pension system committed $170 million across three strategies in the fourth quarter.
The retirement system will interview two private credit managers at its investment committee later this month.
The fund has closed with approximately $8 billion in total capital commitments.
The pension plan recently approved three commitments totaling $165 million.
Private debt would represent a new investment for the trust.
The pushback on diversity, equity and inclusion by the federal government, which plans to investigate whether DEI initiatives at several large universities and foundations are illegal, alongside several state governments has left some nonprofit institutions questioning their mission.
The pair of expected private credit commitments will help the fund as it looks to reach its target allocation to the asset class in the coming years.