Credit/Private Debt
The investment and operations committee approved discretionary private credit and non-core real estate partnerships at this week’s meeting.
The pension fund committed to private credit and private equity buyout funds.
The pair of commitments are subject to approval from the full board later this month.
The plan is seeking proposals from private debt managers offering direct lending strategies.
The firm has hired the former director of investments at a mid-Atlantic-based college as a managing director of private markets to provide investment advice, income tax minimization and wealth planning and financial administration solutions.
The foundation added distressed credit, mezzanine debt and hedge fund-of-funds strategies to its portfolios last year.
ACORE Credit Partners II closes with total equity commitments of approximately $1.4 billion.
The retirement plan made commitments within its opportunistic credit and private equity buyout portfolios.
The plan received an international equity structure review at today’s meeting that calls for a public RFP process.
Plan added a $3 million credit commitment last month.