Hedge Funds
The retirement system also changed firms for private infrastructure and private real estate consulting services in awarding contracts that also included hedge fund, private credit and private equity.
The retirement system added $160 million in new private equity and hedge fund allocations in recent months.
The retirement system is also watching a hedge fund manager due to underperformance.
The pension plan recently made $1.5 billion in total commitments and terminated two existing managers.
The plan will issue an RFP later this year due to statutory requirements.
Under today’s conditions, many nonprofits and allocators are looking at other macro trends — especially the advancement of artificial intelligence technologies and concomitant demand spike for energy and infrastructure — that bode well for their alternatives allocations.
The pension plan is seeking several managers to handle a yet-to-be-determined mandate.
The plan also placed two investment managers on watch last month.
The plan also received a hedge fund search report that includes 22 responses.
