Credit/Private Debt
The nonprofit has launched its first open RFP to build partnerships and support investments that can accelerate U.S. clean power projects, seeking proposals from energy developers, commercial partners, community lenders and financial investors like private credit and private equity firms.
The plan expects to issue the RFP before the end of the month.
The retirement association also made real estate commitments and a hedge fund redemption this quarter.
The plan will look to hire five firms after launching a search in January.
The endowment is preparing to conduct a search for an investment consultant for its portfolio after wrapping up its U.S. direct lending manager search at its November board meeting.
The plan placed an emerging markets equity manager on watch for performance reasons.
The plan concluded its real estate and private credit searches in the past two months.
The retirement fund approved its first commitments to the private credit space after adding a maiden target to the asset class last year.
The adoption of AI technologies across the economy may yield 1-3% more annual economic growth across the U.S., requiring a significant growth in demand for energy utilities and infrastructure that bodes well for nonprofit investors with allocations to the asset class.
The retirement fund disclosed commitments totaling $4.5 billion in September.