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The hire follows a search from last year as the foundation’s investment head is set to retire on June 30 after nearly twenty years in the role.
The pension will allocate $250 million to $400 million each to multiple mandates.
The retirement system shifted away from non-core fixed-income as part of changes approved at today’s investment committee meeting.
A gradual increase to the direct lending space through the first quarter reflects private credit’s growing popularity within the industry, which expects continued growth as more institutions look to the asset class to diversify their portfolios.
The district is establishing a new defined benefit plan later this year.
The plan considered five total direct lending strategies before making a commitment in February.
The firm’s most recent infrastructure fund reached its hard cap of $2.6 billion.
The retirement system is seeking to expand its private debt and private equity teams.
The fund surpassed its $1.5 billion target.
The new global president and ceo first joined the firm in January 2024 as president and ceo of Fiera Canada and Global Private Wealth.