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The plan voted to add a passive option for the asset class that can be funded at a later date if they choose.
The plan received three proposals in response to an RFP issued in April.
The fund exceeded its $3 billion target.
ASU Enterprise Partners CIO Jeff Mindlin is leaving the organization to join The Nature Conservancy as its next investment head this month.
The plan is seeking distressed debt, junior/mezzanine, asset backed and/or direct lending private debt strategies.
The search follows the plan’s decision to introduce a 5% dedicated private credit target allocation yesterday.
Investment Consultant Sean Lee has departed his role after more than 20 years at the firm.
The new hire joined the firm yesterday from MetLife Investment Management.
The city last conducted a search for the services in 2020.
The pension plan will also receive a staff recommendation to place one of its private equity fund-of-funds managers on watch this week.