Infrastructure
The watch status is due to a co-portfolio manager’s abrupt departure from the firm.
The plan expects to approve a recommendation in the third quarter.
The fund approved maiden infrastructure fund commitments in the fourth quarter as the strategies provide good yields with stable growth, strong protections against inflation and a low correlation with other asset classes.
The plan adopted a new asset allocation that includes a maiden target to the asset class.
The plan concluded its domestic small- to mid-cap equity manager search and made private markets commitments last week.
The plan concludes a search that began in February.
The plan will first issue RFPs for global infrastructure and tactical asset allocation managers.
The plan added up to $1.625 billion in new commitments at last week’s meetings.
The trust fund added private equity and private infrastructure commitments as part of the buildout of illiquid assets in its portfolios.
Plan added three commitments totaling $310 million at this week’s board meeting.