Private Equity
The pension fund is seeking one or more private equity secondaries products diversified by underlying fund strategy and geographic focus.
The selected firm will manage a private equity portfolio totaling $400 million over five years.
The plan added a follow-on private equity commitment at a board meeting last week.
The global asset manager has closed its third vehicle investing in high-growth technology companies across North America, Europe and Israel with $3 billion in committed capital from new and existing investors.
The commitments include follow-on and first-time fund commitments for the plan.
The plan will consider issuing a general investment consultant RFP due to an upcoming contract expiration.
The plan will withdraw prior to the fund’s closure in December.
The new investment consultant was hired last week following a search that was relaunched in May.
The pension plan agreed to increase its global equities target by reducing its global private equity target from Oct. 1 through Dec. 31, 2024.
The plan received information on a total of 15 managers at its meeting today.