The professionals will help manage the retirement system’s private equity, real estate, real assets and hedge fund portfolios, director Chris McDonough told the Buyouts magazine.
Their duties will involve sourcing investments, performing manager due diligence, negotiating partnerships and presenting recommendations to the investment council, said McDonough.
He said that the pension system plans to hire the investment professionals by late September and may also hire money managers to run additional separate accounts.
The LP had committed around $12bn to private equity funds as at the end of April. Venture capital and private equity investments currently account for just over seven per cent of its portfolio.
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