Credit/Private Debt
One of the new hires leads the private credit secondaries business and the other is responsible for secondaries within the private equity group.
Plan is seeking a firm to provide non-discretionary private credit investment management services for its new 2% target to the asset class.
The transaction was first announced in March.
The plan hired a new global equity manager to handle a $500 million mandate and added 13 other commitments last month.
The plan committed to a Vista Equity Partners fund at today’s board meeting.
The plan will release its RFP for a non-discretionary private credit advisory services next week.
The fund focuses on distressed credit and special situations opportunities in developed global markets.
The hire concludes a search launched in April to fill a maiden allocation.
Plan will search for private equity managers to fill a new 5% target to the asset class at today’s board meeting.
The plan committed to two funds following finalist interviews this week.
