Infrastructure
The state is searching for an investment advisor to manage a new $1 billion infrastructure impact investment program.
Plan added a pair of infrastructure investments totaling $30 million.
The board terminated three managers to “harmonize” the equity portfolios between its plans.
The fund will focus on value-added, middle market infrastructure investments.
The fund approved a new strategic asset allocation to continue to move its assets toward an endowment style portfolio with private markets investment exposure.
The fund seeks unique direct co-investment and secondary investment opportunities.
Plan introduced private credit and private infrastructure target allocations and hired a domestic mid-cap value equity manager to replace its existing mandate with Wellington Management Company this week.
Plan disclosed three May commitments totaling $140 million.
Plan will take a deep dive of the international equity space for potential options after placing a EAFE value firm on watch today.
Plan made asset allocation changes in an effort to move closer to its long-term policy and disclosed four commitments today.