Fixed-Income
The pension plan’s investment committee approved commodities, fixed-income and private credit commitments last week.
The foundation is proposing shifting its $642 million consolidated endowment fund toward private equity, domestic public equity and short-duration fixed-income.
The plan will issue an RFP for domestic core fixed-income managers as part of a restructure approved at this week’s board meeting.
The pension plan hired a new manager after increasing its domestic fixed-income target allocation in May.
Expansions will help the systems reach their goal of having 15% of U.S.-based actively managed investment assets with diverse-owned firms by 2025 and 20% by 2029.
The plan made two hires in its search for multi-sector fixed-income managers.
The college savings plan has added two underlying high-yield fixed-income funds with existing managers within its portfolio.
The fund selected a firm to provide low duration/short-term fixed-income exposure over three other managers following finalist interviews held at its board meeting last month.
The plan is looking to hire three managers to handle a total of more than $1.6 billion.
The interviews follow searches conducted after approval of a new asset allocation mix this year.