Credit/Private Debt
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.
The commitments to private equity and private debt total $146 million.
The state treasurer’s office will consider adding two private debt strategies to its trust portfolio after approving new targets to private credit last year.
The plan terminated a $1.4 billion domestic large-cap value equity mandate and made commitments with four existing managers and one new manager in August.
Plan’s investment committee approved up to $115 million in alternatives commitments this month.
The fund is looking to build out its alternatives allocations to align its portfolio with a new strategic asset allocation approved in June.
The rehired its general investment consultant this month and made a $30 million distressed debt commitment to an existing manager in August.
