The foundation hired a private credit manager and made commitments to two existing private equity managers during the first quarter.
Plan made commitments to eight existing managers and one new manager last month.
Plan’s new global credit manager will handle an approximately $700 million mandate.
The plan made a $20 million commitment at its special meeting yesterday and anticipates making annual commitments to additional funds moving forward.
Plan added a $15 million commitments the first of five total to be proposed in 2022.
Plan added a secondaries commitment to its portfolio this week.
Plan’s decision to move all of its fixed-income assets in-house will reduce its annual fees.
The commitments include three first-time investments.
The fund will identify and pursue private credit opportunities in the U.S. and Canada.
Commitment represents a new relationship for the plan.