Credit/Private Debt
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.
The retirement fund disclosed commitments totaling $3.1 billion in November.
The team joins with five existing investment funds and $500 million in capital commitments.
The retirement system added private equity and private credit commitments in recent months.
The pension plan approved one credit and three real estate commitments totaling $180 million at yesterday’s investment committee meeting.
The plan is set to commit $700 million to private credit this year.