Credit/Private Debt
KKR and Mubadala will co-invest across performing private credit opportunities in the Asia Pacific region.
The plan made two commitments within its real estate portfolio and one commitment within its private credit and income portfolio last week.
The plan recently committed $348.5 million total to two existing managers and terminated a high-yield fixed-income manager.
The customized mandate will allow the plan to invest across the firm’s platform.
The plan’s general investment consultant “was unsuccessful in reaching legal terms” for a previously approved follow-on private credit commitment.
The foundation approved a maiden private credit target and increased its allocation to hedge funds following an asset allocation study.
The plan’s investment committee selected a winner in its private credit consultant search this week.
The plan terminated a $475 million emerging markets value equity mandate in May and approved private markets commitments totaling $170 million in June.
The firm hired a managing director and deputy portfolio manager to help build and lead the firm’s investment capabilities in structured credit.
The plan added commitments to a credit fund and a private equity fund this summer.