Credit/Private Debt
The plan committed $130 million total to four existing managers and one new manager in June.
The plan increased its private credit target and added a commitment within the non-core fixed-income portfolio yesterday.
The plan approved a credit commitment with an existing manager and an internally managed absolute return allocation last week.
The university will consider adding a passive domestic large-cap value strategy to provide a more balanced approach to its equity portfolio and a private debt manager as it looks to build out its allocation to the asset class.
The plan is in the process of filling its 5% private credit target and conducting a real estate portfolio structure review.
The increased commitment will provide the plan with “an equal-weighted exposure” between its U.S. and European private credit managers and the termination will reduce volatility.
The new consultant will provide private credit and credit consulting services.
The commitment is part of the plan’s annual pacing schedule.
The plan committed $20 million to a new opportunistic credit manager.
The plan committed up to $100 million across three strategies to fill a new target approved last year.