Private Equity
The pension system increased private equity and infrastructure and real assets following changes approved this week.
The plan made two commitments for pacing purposes at today’s board meeting.
The pension fund approved up to $500 million in private markets commitments at a meeting today.
The organization is seeking an advisor to assist with supporting its portfolio of innovations with capital and financing strategy as well as business models and operations for growth.
The retirement board was also expected to hire a new manager in its domestic small- to mid-cap growth equity manager search.
Evergreen funds have seen tremendous growth and interest in recent years, which the industry anticipates will continue as data entered in the second quarter of the year showed an uptick in commitments to these perpetual investment vehicles that provide institutions with positive attributes.
The retirement system will interview four private equity managers at an investment committee meeting this week.
The retirement plan is also expected to conduct a real estate manager search soon.
The retirement system has issued its RFP after initially approving the search in May.
The retirement plan will conduct an invitation-only search for its discretionary private equity portfolio services.
