Credit/Private Debt
The plan made a pair of private credit commitments and one private equity commitment last month.
Plan added a 3% target to private credit as part of broader asset allocation changes approved today.
The manager has trailed its benchmark for two consecutive quarters.
The plan may hire two direct lending managers next month.
The selection will conclude a core-plus fixed-income search for a replacement manager.
The sustainability-focused firm has launched global and European infrastructure credit platforms targeting global investments in energy, transportation, social, digital and other sustainable infrastructure.
The plan will consider hiring two international equity managers to handle up to $700 million total this week following a search from last year
The plan hired five multi-asset credit managers today as part of its previously approved return-seeking fixed-income structure.
The plan is seeking a firm to handle a $15 million mandate and provide uncorrelated returns to both equity and fixed-income markets.
The plan eliminated a 5% target to emerging market debt and redistributed it amongst existing asset classes.