Private Equity
The plan is replacing an existing equity manager and making its first private equity investment since 2019.
The retirement system made seven private markets commitments totaling $35.6 million last month.
The pension system made its first traditional private equity buyout commitments in years at today’s board meeting.
The changes aim to improve portfolio quality for the retirement system’s domestic equity sleeve with several terminations and hires.
The conference has entered into a private capital deal in a partnership between two private investment firms that will help with revenue generation, investment opportunities and provide a credit line.
The managing director will utilize their more than 15 years of direct private equity experience and origination capacity to build on the firm’s deal generation capabilities
The fund and related vehicles closed with $8.5 billion in total commitments.
The plan also disclosed two private markets commitments.
The retirement association is seeking a firm to review and evaluate its discretionary private credit and private equity portfolios.
The fund recently with more than $850 million in capital commitments from existing and new investors, exceeding its $800 million target.
