Credit/Private Debt
The pension plan hired the manager as part of a new domestic equity structure.
The plan scheduled its annual commitments for private equity, private debt, real assets and real estate.
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.