Infrastructure
Plan’s investment committee approved up to $115 million in alternatives commitments this month.
The fund is looking to build out its alternatives allocations to align its portfolio with a new strategic asset allocation approved in June.
The plan will seek a real estate manager to handle $30 million to $60 million and recently hired a hedge fund-of-funds manager as part of new absolute return portfolio structure.
The plan will interview two private equity managers and an infrastructure manager at its November board meeting.
The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.
The plan will receive a list of active duration fixed-income managers next month.
The plan committed $25 million to a new non-core real estate manager and approved a fiscal 2023 private markets pacing plan this month.
The plan hired two firms that will target emerging and diverse private equity, real estate and private credit managers.
The plan disclosed various private markets commitments at its board meeting last week.
The plan will interview two firms next month to handle nearly $200 million.