Credit/Private Debt
The commitments include two custom mandates.
The plan added a private credit commitment at last month’s board meeting.
The plan is looking to make its second investment in the asset class.
The pension plan’s investment committee approved commodities, fixed-income and private credit commitments last week.
The selected firm will assume an $86 million mandate currently handled by an underperforming manager.
The pension plan liquidated an international equity mandate and made $1.8 billion in total commitments in September.
The pension plan made a $15 million credit commitment earlier this month.
The plan committed to four firms that represent new relationships.
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.