Credit/Private Debt
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.
The alternatives platform will acquire a minority stake in the private credit firm launched by former
Northern Trust Asset Management President Shundrawn Thomas.
The switch was made after a change in the incumbent firm’s ownership.
The plan will see its overall private markets target increase to 40% from 33%.
The plan was slated to interview managers in late 2023 following approval of a new target asset allocation.
The plan eliminated two hedge fund investments and will redistribute the funds to increased allocations with other portfolio managers.
