The investment committee of the $11.1 billion New Hampshire Retirement System recommended a change in strategic allocation, reducing exposure to equities and increasing allocations to alternative investments, confirmed Marty Karlon, spokesman for the pension system.
At its Nov. 14 meeting, the investment committee said the Concord-based pension system should reduce its global equity allocation to 40% from 50%, raise its private credit allocation to 10% from 5% and allocate 5% to private infrastructure, a new category, Karlon wrote in an email.
The global equity category encompasses both domestic and international equity.
The proposal must be approved by the board of trustees, whose next meeting is Dec. 12.
The investment committee also approved the five-year renewal of a contract for the Wellington International Small Cap Research Equity fund. The non-U.S. equity fund has $120 million in assets from the New Hampshire system.