Private Equity
The pension fund committed to private credit and private equity buyout funds.
The retirement system hired a firm to replace its underperforming incumbent earlier this week.
The plan will target a proposed allocation of $12 million to $18 million for pacing purposes.
The firm has hired the former director of investments at a mid-Atlantic-based college as a managing director of private markets to provide investment advice, income tax minimization and wealth planning and financial administration solutions.
The system approved private equity commitments with new and existing managers within its endowment and the addition of a short-duration fixed-income manager within its liquidity pool at its investment committee meeting this month.
The Houston-based middle market firm closed its sixth private equity fund at its $3.5 billion hard cap, exceeding its $2.75 billion target.
The retirement plan made commitments within its opportunistic credit and private equity buyout portfolios.
The commitment is part of the retirement system’s annual pacing plan that will target three to four managers.
The system is seeking investment consulting services across investment practices and performance as well as general investment and alternatives asset classes.