Credit/Private Debt
The plan considered a new asset allocation last month that would increase its fixed-rate debt target and previously committed to an existing real estate debt manager.
The commitment marks the plan’s second with the firm.
The commitments include two new relationships for the council.
The plan is considering follow-on commitments to eight existing managers.
The plan expects to conclude the search process in the third quarter.
The plan disclosed $183.5 million in recent private equity, private credit and real assets commitments this week.
The plan committed $175 million total to two existing managers last week.
The plan made private markets commitments totaling $44.6 million and approved a 2023 pacing plan last month.
Plan will review a maiden allocation later this month after hearing an education on the asset class last week.
The plan made commitments to existing relationships, added a new credit manager and approved the hire of a new public markets consultant at its Feb. 16 meeting.