Real Assets
The new asset allocation introduces private credit and infrastructure asset classes.
The RFP is being issued because a number of infrastructure managers are coming to market this year.
The plan disclosed $668 million in total commitments with one new manager and twelve existing managers in the fiscal second quarter.
The plan also closed on commitments totaling $1 billion.
All five commitments were made to existing manager relationships.
The plan is seeking one or two separate account managers to establish emerging manager programs for real assets and real estate.
The plan committed $300 million total to two managers this month and was informed of two private equity co-investments.
The plan is looking for a farmland manager to handle $35 million.
The plan anticipates committing up to $565 million total to the two asset classes this year.
As nonprofit investors expect market volatility to continue, with the possibility of an economic recession on the horizon, many are seeking early-stage private equity, private debt, real estate, infrastructure or hedge fund strategies to capitalize on macro trends that include a slowdown in economic growth, rising inflation, emerging technologies and demographic trends.