Credit/Private Debt
The plan disclosed several new private markets commitments in its December board meeting materials.
The commitments, which span real estate credit and private equity, include two new relationships.
The plan committed to a direct lending strategy today that will complement existing manager HPS Investment Partners.
The plan committed roughly $1.2 billion total to four new managers and two existing managers in October.
The plan added a $10 million real estate credit commitment at an October board meeting.
The plan committed $8 million each to a private equity fund-of-funds and a managed income strategy in October.
The trust company is looking to commit $150 million to $625 million annually to alternative assets, including alternative fixed-income, hedged equity and private debt, within its endowment.
The plan will search for a new core-plus fixed-income firm after recent asset losses and a change in ownership experienced by its incumbent manager.
The plan added a follow-on $250 million direct ending commitment earlier this month.
The plan approved an infrastructure commitment with an existing manager and was informed of two credit commitments at yesterday’s board meeting.