Credit/Private Debt
The retirement plan filled its new private credit allocation in the second quarter.
The plan sees market opportunity due to recent banking failures.
The hire follows a global equity structure review emphasizing alpha generation.
The plan also made an infrastructure commitment at a board meeting today.
The plan is looking to make two to three commitments in the growth equity and buyout spaces by the end of the year.
The plan committed to private equity and private debt for pacing purposes.
The plan will consider first-time investments in private equity and private credit strategies.
The plan added $90 million across two commitments in the second quarter.
The pension plan heard presentations from six managers at last month’s board meeting.
The plan will hire one additional firm in its multi-credit asset class search.