Credit/Private Debt
The plan increased its target allocations to credit and hedge funds last month and recently approved three commitments totaling $125 million.
The plan committed $10 million to an existing real estate debt manager yesterday.
The plan voted to issue an RFP for the services due to the upcoming contract expiration of one of its providers.
The commitments represent new relationships for the plan.
Plan selected a maiden private credit consultant following finalist interviews held this week.
The plan committed a total of $350 million across two commitments at today’s meeting.
The plan introduced new investment grade credit and private credit allocations as part of changes resulting from an asset/liability study.
The plan will look to add private credit, re-establish its private equity portfolio, add complementary real estate strategies and evaluate its domestic equity portfolio this year.
Plan has launched a private credit RFP intended to fill a maiden allocation to the asset class.
As nonprofit investors expect market volatility to continue, with the possibility of an economic recession on the horizon, many are seeking early-stage private equity, private debt, real estate, infrastructure or hedge fund strategies to capitalize on macro trends that include a slowdown in economic growth, rising inflation, emerging technologies and demographic trends.