Credit/Private Debt

Plan re-upped with a direct lending manager already managing funds in its portfolio.

The plan hired Ares Management to handle a new 5% allocation to opportunistic credit approved last year.

Plan’s investment committee was scheduled to interview four firms in the search for an up to $60 million allocation.

Plan will review two funds previously narrowed from a direct lending search presented in February.

The four new firms help make up the plan’s new $5.2 billion fixed-income structure.

Plan’s board considered terminating an emerging markets value equity manager and disclosed several alternative commitments and manager terminations last month.