Infrastructure
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 plan’s private markets portfolio accounts for more than half of its total assets.
The retirement system agreed to hire a new core fixed-income manager at today’s meeting.
The pension plan recently made $1.5 billion in total commitments and terminated two existing managers.
The retirement system will conduct a search for three fixed-income mandates.
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 retirement fund has posted an RFP for infrastructure managers to handle a $50 million to $80 million allocation.
Plan added a real assets commitment to a prior manager relationship this week.
The fund approved an infrastructure commitment with a new investment manager earlier this month.
The firm will continue to provide private equity and real asset consulting services for the plan following its rehire last week.
