Hedge Funds
The plan disclosed various private markets commitments at its board meeting last week.
The plan will also eliminate its long/short equity portfolio.
The plan committed $130 million total to four existing managers and one new manager in June.
The plan approved a credit commitment with an existing manager and an internally managed absolute return allocation last week.
The plan is in the process of filling its 5% private credit target and conducting a real estate portfolio structure review.
The plan will hire a new high-yield fixed-income manager this fall.
The plan disclosed 14 recent commitments and an equity manager termination.
The plan hired a new domestic small- to mid-cap growth equity manager and will make potential changes to its long/short portfolio.
The hedge fund manager hired an economist and strategist as well as a head of European economic research.
The plan’s hedge fund committee approved an investment last week that will occur in either the fourth quarter or first quarter.
