Fixed-Income
He will help oversee a $35 billion fixed-income portfolio.
Plan approved a convertible bond hire at today’s meeting as well as private equity and real estate commitments.
The hired firm will provide liquidity to meet the plan’s near-term benefit payments.
He will retain his previous responsibilities as head of institutional business.
Plan hired a new active core fixed-income manager to split its overall bond allocation this week.
Credit and venture capital commitments were made with three existing managers yesterday.
Plan hired a new emerging market debt manager to handle a $10 million allocation today.
The plan is conducting the search as it nears the end of a five-year contract term with its incumbent.
Plan will seek one core firm and one core-plus bond manager to split a proposed long-term target of 24% to the overall asset class.
Plan added a 5% target to private debt at the expense of emerging market debt.
