Credit/Private Debt
Expansions will help the systems reach their goal of having 15% of U.S.-based actively managed investment assets with diverse-owned firms by 2025 and 20% by 2029.
The pension plan will consider tweaking its asset allocation for fiscal year 2024 at its board meeting tomorrow and disclosed commitments totaling $450 million at today’s investment advisory committee meeting.
The plan is considering commitments to four private equity funds and one credit strategy.
One of two private credit commitments approved earlier this year has failed in negotiations.
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.
