Private Equity
The plan will hold a second round of finalist interviews in its consultant search next month and committed to an existing private equity manager in February.
The plan made a pair of private credit commitments and one private equity commitment last month.
The manager has trailed its benchmark for two consecutive quarters.
The fund approved a new asset allocation for its portfolio as well as a private equity commitment to an existing manager relationship at its special board meeting last month.
The plan added $500 million across three new alternatives commitments in the fourth quarter.
The plan is seeking buyout, secondaries and open-end core infrastructure funds.
The indirect impact of the Silicon Valley Bank situation on institutional investors will take time to fully assess as Federal Reserve actions to backdrop depositors is digested by the markets.
The latest commitment will be the plan’s fifth overall investment with the firm.
The plan made private equity commitments totaling $60 million this week.
The plan made the commitment alongside approving a 3% target to the asset class at today’s board meeting.