Credit/Private Debt
The plan concluded two manager searches this week.
Investors are planning to increase their allocations to private markets to capture higher returns with the help of external partners like outsourced cios.
The terminations stem from a completed domestic equity restructuring.
The plan will commit up to $3.4 billion to the two asset classes.
The plan will issue RFPs following adoption of a new asset allocation in June.
Plan added $145.4 million in alternatives commitments through the first half of the year.
The plan added a follow-on direct lending commitment in June.
The fund will source and invest in credit-sensitive financial assets across the performance spectrum.
The transaction is expected to close in the fourth quarter.
One of the new hires leads the private credit secondaries business and the other is responsible for secondaries within the private equity group.
