Nebraska Investment Council eyes opportunistic credit, more private equity
By Rob Kozlowski | February 28, 2013 12:50 pm
Nebraska Investment Council, Lincoln, will consider making opportunistic credit investments in 2013 as part of its fixed-income allocation, said Jeffrey W. States, state investment officer.
The council, which oversees a total of $18 billion in assets, gave approval at its meeting on Tuesday for staff and investment consultant Hewitt EnnisKnupp to explore committing 5% to 10% of total assets to opportunistic credit. The overall fixed-income target allocation is 30% of total assets.
The investment council also approved a plan to make five or six private equity commitments in 2013 totaling $140 million to $160 million. Mr. States said half of the commitments will likely be to new funds with private equity managers with whom the council has committed money before.
Any searches the council conducts for new commitments will be invitation only, Mr. States said.