Infrastructure
The retirement system previously did not have consultant coverage for private equity, private debt and private infrastructure.
The fund surpassed its target with $800 million in capital commitments.
The firm is expanding its presence across the Gulf Cooperation Council and the broader Middle East by building a dedicated regional investment platform to drive infrastructure investments and related activities.
The fund received educations on the two asset classes at its investment committee meeting last week as part of an ongoing asset/liability study.
The retirement system added the two new asset classes as part of a completed asset allocation study.
The commitments were made across private equity, credit and real assets totaled $725 million.
The retirement system hired a global equity manager to handle $500 million and added two commitments with existing manager relationships last week.
The pension fund is seeking a manager to handle a diversified real assets strategy that must include commodities, precious metals and infrastructure/real estate.
The fund will also review a high-yield fixed-income manager search request from staff at its June 13 board meeting.
The pension plan is searching for private equity funds in buyout technology and enterprise software as well as infrastructure secondaries funds.