Private Equity
The plan disclosed making private equity and absolute return commitments with existing managers during the second quarter.
The pension plan approved an up to $75 million commitment to an early-stage venture capital strategy.
The plan disclosed private equity, private credit and real estate commitments at a board meeting today.
The firm recently added a new member to its business development team to support its deal origination efforts and focus on building relationships with corporate sellers.
The system expects to receive a recommendation from its general investment consultant to reinvest funds at a future board meeting after approving the termination of a hedge fund manager last week.
The board also named a new retirement manager.
The plan will consider issuing two consultant RFPs due to upcoming contract expirations and recently added a private equity commitment.
The plan concluded its private equity manager search conducted for pacing purposes.
The $300 million in total commitments went to existing managers.
The commitments were approved by the plan’s private markets committee at a meeting yesterday and require full board approval later this month.