Credit/Private Debt
The retirement system finalized a pair of new manager relationships last week.
The newly hired firm will provide private credit, private equity, real estate and infrastructure consulting services.
The pension plan also made credit and infrastructure commitments totaling $130 million last month.
The plan also terminated an international small-cap equity manager for performance reasons.
The strategy exceeded its initial $1.25 billion hard cap.
The pension plan made two credit commitments totaling $60 million in the second quarter.
The plan hired two multi-asset credit managers at a board meeting today.
The pension plan established a 5% target to the private credit asset class at a meeting this week.
The hire precedes a likely second manager hire in the asset class within the next year.
The foundation is seeking an investment consultant to advise its investment portfolio as it also explores increasing its private equity and debt allocations.