Credit/Private Debt
The plan will consider multi-asset credit manager recommendations in March and terminated mandates with GMO and MetLife last week.
The consultant will advise the plan’s nearly $335 million private markets portfolio.
The changes followed two separate asset/liability studies from general investment consultant Verus.
The commitments include two first time managers for the plan.
The plan is watching two absolute return managers due to concerns related to turnover and portfolio construction.
The plan concluded its domestic small- to mid-cap equity manager search and made private markets commitments last week.
The plan approved a $10 million commitment at its Dec. 1 board meeting.
The plan will consider hiring five multi-asset credit managers and terminating five existing managers.
The plan will launch a credit manager RFP next month to fill a maiden allocation to the asset class.
The plan added commitments totaling $45 million in the last several months.
