Plan added commitments totaling roughly $2.7 billion with six existing managers and two new managers in March.
Plan is targeting direct lending strategies and will award up to $600 million per mandate.
Plan approved the search and canceled its investment in a new opportunistic credit manager yesterday.
The direct lending fund primarily focuses on senior secured loans and unitranche loans in the U.S. and Canada.
The plan approved credit and private equity commitments during today’s meeting as part of pacing plans for the respective asset classes.
The plan approved a new 3% target to infrastructure following an education from its general investment consultant.
The $2.4 billion transaction is expected to close by the end of the second quarter.
Plan also adopted a new asset allocation that includes a maiden target to private debt.
The three will source, research and analyze existing and prospective investments.
Plan’s investment committee will review a recommendation to rehire the incumbent consultant.