The Arizona State Retirement System in Phoenix is expanding its credit asset class with a focus on niche private debt strategies that have the potential to outperform much of the system’s portfolio in the years to come.
At trustees’ December meeting, the implementation plan was presented for the $42 billion pension system to place $2.6 billion in additional commitments with the fresh capital slated to go to existing managers with expected returns ranging from 10% to 15%.
Back in September, a senior portfolio manager on the pension fund’s fixed income team told . . .
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