Private Equity
The retirement system also considered approving a 2026 private markets pacing plan last week.
The retirement plan approved a new long-term asset allocation policy and 2026 private markets pacing plan in the fourth quarter.
The plan will receive pacing recommendations across private equity, non-core real estate and private credit next week.
The plan has asked its consultant to come back with U.S. mid-cap growth and value manager options.
The plan is searching for a firm to provide private equity and private credit consulting services.
The retirement association was notified of private equity and real assets commitments last week.
The retirement fund recently disclosed $60 million in total commitments across private credit and private equity.
The retirement system approved private equity and real assets commitments at its meeting last week.
The fund exceeded its hard cap of $1 billion.
Many endowments, foundations and their allocators point to relatively small or medium-size private equity buyout and early-stage venture capital for returns that outpace the public markets, while private real estate, infrastructure, hedge funds and private debt, especially asset-based lending look like strong portfolio diversifiers in this year’s mercurial environment.