Plan is seeking a firm to manage a customized multi-credit mandate with an initial range between $400 million and $1 billion.
He will be responsible for evaluating, executing, monitoring, originating and structuring the firm’s credit and royalty investments.
The plan has issued its RFP seeking a separate account manager to handle an approximately $750 million allocation.
Plan wrapped up a direct lending manager search with a $12 million commitment in September.
Institution announced a recent $500 million investment with a New York-based manager.
The plan is set to commit a total of $200 million to private credit next year.
The plan has created a new target to direct lending as part of a new asset allocation policy.
Plan disclosed recent private equity, credit, infrastructure and real estate commitments totaling approximately $1.2 billion.
The commitments totaled $160 million, including with two new managers.
The plan committed $200 million to a fund-of-one primarily investing in regulatory capital relief transactions.