Plan will issue the RFP next month on its general investment consultant’s website.
Plan is seeking private debt managers to each handle an up to $100 million mandate and approved new asset allocation policies last week.
Plan terminated its passive fixed-income manager to improve historical risk-adjusted performance.
Plan staff is seeking board approval of direct lending and core-plus real estate commitments this week.
Commitments to private credit and private equity made at today’s board meeting total $60 million.
Commitments to two existing managers totaled $80 million.
Plan rejected the commitment after receiving additional information about the firm’s ongoing litigation yesterday.
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.
The firm, which allocates private debt capital to microfinance and small and medium-sized finance institutions, has promoted its coo to ceo to handle day-to-day management.