Credit/Private Debt
The plan has been discussing investing in private credit since the fourth quarter.
The pension plan recently committed approximately $2.2 billion total to eight funds and terminated an existing credit strategy.
The plan made hires following finalist interviews last week, concluding two RFP searches.
The fund revised its target asset allocation at its board meeting last week, increasing its exposure to fixed-income and private debt at the expense of real estate and global tactical asset allocation.
The plan made three follow-on commitments at this week’s board meeting.
The plan disclosed an up to $20 million private credit commitment last month.
The plan committed to an existing private debt manager relationship in March.
The plan will conduct a search for multi-asset class credit investment strategies.
The plan is looking to commit $100 million to a newly established credit hedge fund.
The plan will conduct searches in several fixed-income and credit sectors following a portfolio restructure stemming from an overall asset/liability study.