Searches And Hires
The plan also received a private credit pacing plan at its meeting yesterday.
The retirement system made commitments to one firm for private equity and private debt.
The plans are seeking a firm to provide a full range of investment advisory services.
Six foundations were among 16 early investors to commit to a Western investment manager’s second private credit fund, which aims to provide U.S. farmers with tailored loans.
The fund will consider consolidating its public credit portfolio into a passive U.S. aggregate bond index to improve operational efficiency, reduce fees and reduce active risk at its board meeting this month.
The organization is looking to establish a trust fund and has issued an RFP seeking an investment advisor to oversee the fund.
The funds have delayed the announcement of finalists in their search for investment managers by three weeks due to the considerable number of proposals received.
The agency is slated to select a firm at its May 15 board meeting.
The searches are for buyout, growth equity and venture capital strategies.
The retirement system committed $500 million to four existing managers.