Private Equity
The plan approved an up to $20 million commitment to a new fund with an existing manager relationship.
The fund approved a private equity fund-of-one commitment with a firm that was a semifinalist in its original search to build out its private equity allocation with a fund-of-one commitment in 2020.
The private equity firm closed its second fund with $2 billion in capital commitments.
The plan is seeking private equity, private real estate, private credit, public markets and compliance reporting consulting services.
The retirement system will consider six commitments totaling $265 million at Thursday’s investment committee meeting.
The plan added two private markets commitments last month.
Private markets activity is improving alongside artificial intelligence investment growth as investors lean into more complex and fragmented markets in their quest to unlock differentiated return sources.
The private equity firm closed its most recent fund with $670 million in capital commitments.