Search is for a consultant to oversee a 2% portfolio to private credit approved in August 2020.
The plan committed $700 million to two alternative managers.
Plan’s consultant will present report on the $8 million search in June or July.
He will handle the origination, execution and management of credit investments across the capital structure in the region.
The transaction is expected to complete in the first quarter of 2023.
The fund’s closure brings Pantheon’s total capital dedicated to private debt secondary investing to $2.4 billion.
The plan committed $25 million to the asset class for pacing purposes.
Plan approved four fund commitments totaling more than $360 million today.
The fund seeks to create customized financing solutions that can help resolve idiosyncratic liquidity and capital structure situations.
The foundation hired a private credit manager and made commitments to two existing private equity managers during the first quarter.