Private Equity
The commitment is part of an annual private equity pacing schedule.
The fund has added fixed-income, bank loan, international equity and private equity investments to its endowment in recent months as it builds toward a new strategic asset allocation adopted in the first quarter.
The pension fund is seeking buyout and special situations funds to handle an estimated $85 million allocation.
The pension plan received a recommendation to hire two infrastructure managers and disclosed two private equity commitments last month.
The pension plan will consider hiring five non-U.S. equity managers and approving a new private equity portfolio structure this week.
The pension plan liquidated its approximately $1.9 billion global equity mandate and made commitments totaling $1.6 billion in March.
The firm has launched its flagship private equity decarbonization program for investors that aspire to reduce the carbon footprint of their portfolio and contribute toward achieving net-zero targets.
The firm closed its latest flagship private market fund with nearly $4 billion in commitments from nonprofits and other institutional investors globally.
The investment and operations committee approved discretionary private credit and non-core real estate partnerships at this week’s meeting.
The plan is targeting a proposed allocation of $12 million to $18 million for pacing purposes.