Credit/Private Debt
The plan will launch a credit manager RFP next month to fill a maiden allocation to the asset class.
The plan added commitments totaling $45 million in the last several months.
The plan will first issue RFPs for global infrastructure and tactical asset allocation managers.
The plan will begin a search for core fixed-income managers next month.
The plan committed $910 million total to one new manager and two existing managers this week.
The commitment will fit into the debt-related special situations bucket of the plan’s private equity portfolio.
The fund is looking for multi-family real estate specialist managers as it looks to transition some of its portfolio’s overweight industrial exposure to multi-family real estate.
The hires conclude a search first approved in June.
The plan committed $100 million total to private equity and private credit and approved a 2023 private markets pacing plan this week.
The plan was notified of two credit commitments and a core real estate manager termination at yesterday’s board meeting.