Credit/Private Debt
The plan hired a new global equity manager to handle a $500 million mandate and added 13 other commitments last month.
The plan committed to a Vista Equity Partners fund at today’s board meeting.
The plan will release its RFP for a non-discretionary private credit advisory services next week.
The fund focuses on distressed credit and special situations opportunities in developed global markets.
The hire concludes a search launched in April to fill a maiden allocation.
Plan will search for private equity managers to fill a new 5% target to the asset class at today’s board meeting.
The plan committed to two funds following finalist interviews this week.
Plan added $250 million in new commitments across the second quarter.
The board terminated three managers to “harmonize” the equity portfolios between its plans.
The plan added three private credit commitments to move closer to its 6% target allocation.