Credit/Private Debt
The plan amended its five-year asset allocation plan to include a maiden target to tactical opportunities and approved three pacing plans in alternatives asset classes last week.
The search will be for a separate account manager to handle $400 million.
The plan is looking to make a maiden private debt commitment of up to $50 million.
The plan will consider three pacing plans at its board meeting this week and recently added a private equity commitment with an existing manager.
The plan introduced a 5% target to private debt and restructured its U.S. fixed-income and both U.S. and non-U.S. equity portfolios last week.
The plan added two commitments totaling up to $80 million in the first quarter.
The commitment appears to represent a new relationship for the plan.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.
The asset class will represent a new investment for the plan.
The plan discussed three commitments last quarter totaling $75 million.
