Credit/Private Debt
The plan hired a new manager in its bank loan search after interviewing three finalists today.
He will oversee the firm’s $11.4 billion private credit offering and its $1.7 billion asset finance business.
The fund will create a portfolio biased toward shorter-duration exposures.
Plan placed its domestic mid-cap growth equity manager on watch due to an impending portfolio manager retirement.
The plan committed $130 million total to four existing managers and one new manager in June.
The plan increased its private credit target and added a commitment within the non-core fixed-income portfolio yesterday.
The plan approved a credit commitment with an existing manager and an internally managed absolute return allocation last week.
The university will consider adding a passive domestic large-cap value strategy to provide a more balanced approach to its equity portfolio and a private debt manager as it looks to build out its allocation to the asset class.
The plan is in the process of filling its 5% private credit target and conducting a real estate portfolio structure review.
The increased commitment will provide the plan with “an equal-weighted exposure” between its U.S. and European private credit managers and the termination will reduce volatility.
