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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.
The plan began screening for several bond strategies earlier this summer.
The city hired two firms on behalf of its three retirement funds, replacing an underperforming incumbent.
The firm has promoted a senior advisor to the fill-time role of president, while also appointing the founder of a financial and strategic advisory firm as a senior advisor.
The village wrapped up a search for its first investment manager in May.
The trust fund approved new international equity, private equity co-investment and a private credit secondaries investments during its board meeting last week.