Credit/Private Debt
The search is due to the impending contract expiration of its incumbent.
The private credit manager is looking to raise $1.25 billion.
The plan will also interview a finalist in its domestic large-cap core equity manager search next month.
The firm’s largest credit pool of capital to date reached $3.6 billion.
The pension plan has not had consultant coverage for private equity, private debt and private infrastructure.
The fund approved 2025 pacing plans across private equity, private credit and private real assets last month.
The plan launched a search in September for a restructuring of its opportunistic bond portfolio.
The plan added a follow-on commitment to an evergreen fund in which it initially committed $100 million in 2022.
Under today’s conditions, many nonprofits and allocators are looking at other macro trends — especially the advancement of artificial intelligence technologies and concomitant demand spike for energy and infrastructure — that bode well for their alternatives allocations.
The retirement system anticipates hiring two to three managers for a combined mandate size of approximately $1.4 billion.