Credit/Private Debt
The plan is seeking a firm to provide fiduciary investment advisory services.
A total of three funds were hired as part of a private credit pacing plan.
Retirement fund made real estate debt and private equity commitments at the end of the third quarter.
The commitments include private credit, infrastructure, farmland and real estate.
The commitments to three firms represent new relationships.
The interviews follow searches conducted after approval of a new asset allocation mix this year.
The state investment management board is searching for a long-only separate account manager for the asset class.
Direct lending would represent a new strategy for the plan.
The retirement system hired two active domestic fixed-income managers and approved a structure for its new private debt portfolio today.
The search will be for two managers to handle up to $483 million.