Credit/Private Debt
The foundation is looking to allocate to new impact investments this year as part of its three-year impact investment program targeting housing and healthcare outcomes in addition to a return of capital committed.
The plan approved a private equity commitment with a new manager at a meeting today.
The retirement fund approved three private credit commitments to start funding of a 2.5% maiden allocation to the asset class added last year.
The pension plan added commitments in real estate, private credit and private equity in recent months.
The plan hired a pair of bank loan managers to handle roughly 3% of its overall portfolio this week.
The fund approved a strategic new asset allocation that included a maiden target to private credit and increases to its allocations to private equity, bank loans, natural resources, infrastructure and cash at its board meeting last week.
Report finds 40% of U.S. and Canadian institutional investors plan to increase their allocations to private debt, while roughly one-third plan to grow their private equity holdings in the next three years.
The plan also made a direct lending commitment in the fourth quarter.
The retirement system hired three managers and made follow-on commitments to two existing strategies as part of an evergreen private debt search.
The pension trust is running searches for investment grade corporate credit and multi-asset managers to handle respective allocations of $660 million and $130 million.