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Eir Partners Capital has closed its third fund above target with $1 billion in aggregate capital commitments.
The plan also made up to $55 million in alternatives commitments in the fourth quarter.
The state deferred compensation fund’s current stable value manager handles $8.3 billion.
The plan committed $20 million to the asset class for pacing purposes.
The authority is seeking the services for its $195.9 million bond and $143.3 million operating portfolios.
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.
The manager recently closed its second private credit impact investment fund after nearly doubling the fundraise for the preceding fund in the series.
The firm closed its acquisition of 100% of the equity of a platform that invests across all stages of the venture capital lifecycle.
She will oversee the firm’s investor relations function, working closely with the leadership team to support fundraising, investor communications and long-term limited partner relationship management.
The new hire will lead the firm’s fixed-income division and oversee proprietary funds and strategies.