Credit/Private Debt
The pension plan is seeking a firm to handle a mandate ranging between $400 million and $1 billion.
The plans placed Wellington Management Company on watch this week due to the upcoming retirement of a partner and equity research analyst.
The plan made a decision in its opportunistic credit search after an RFP process initiated in March.
The credit firm recently closed its inaugural fund, which provides capital for small business owner-operators, above its target fundraise.
Plan will hear presentations from four general investment consultant firms at its meeting next month.
The RFP will seek one or more short-duration high-yield fixed-income managers.
The plan will hear a geographically diverse private debt strategy next month.
The pension system added a new commitment to an existing credit manager relationship last week.
The plan will continue their discussions on potentially investing in private credit at a meeting next month.
Plan staff made a $9 million private credit co-investment in May.