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The plan added the core-plus fixed-income asset class earlier this year.
The firm was terminated from an approximately $102 million domestic core-plus fixed-income mandate last month.
The plan is also slated to kickstart an asset/liability study and will see the results early next year.
The firm’s direct lending business recently hired two managing directors.
An interview with Peter Ackerson of Audere Capital.
The plan approved a new long-term asset allocation that includes a maiden 4% target to private credit at its board meeting today.
The plan is looking to hire one firm to replace two existing fixed-income managers.
The plan’s current consultant was first hired over 20 years ago.
The new co-head of portfolio management joined the firm from Goldman Sachs Asset Management.
The firm closed the most recent vintage of its small business lending strategy with over $580 million.