Credit/Private Debt
A state-sponsored endowment based in the South is looking to commit direct lending commitments to one or more managers.
The pension plan will conduct a search for its in-state private markets program and also recently hired a high-yield fixed-income manager.
Despite macroeconomic headwinds, a new survey finds institutional investors remain optimistic in 2024 and are bullish on private equity and private credit.
The searches result from a new strategic asset allocation.
The fund closed with $2.3 billion in total investor commitments, exceeding its $2 billion target.
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.
