Credit/Private Debt
The fund has already deployed over 50% of its commitments.
The retirement system will consider hiring two active domestic fixed-income managers and approving a structure for its new private debt portfolio this week.
The pension plan hired a multi-strategy manager and diversified fund-of-funds manager to evenly split its 2% target allocation to private credit this week.
The commitments include follow-on and first-time fund commitments for the plan.
The pension plan recently committed $280 million total to credit and real estate funds.
The plan made private equity and private credit commitments for pacing purposes.
The university disclosed follow-on private equity, venture capital and private credit commitments with existing managers within its long-term portfolio in the second and third quarters.
The commitment, initially approved by the investment committee late last month, represents a new relationship for the plan.
The pension plan made a private credit commitment to an existing manager relationship last week.
The retirement system approved a $35 million commitment to a middle market senior loan fund at its board meeting yesterday.