New Hampshire Retirement System, Concord, made two alternative investment commitments totaling up to $100 million.
The pension fund's independent investment committee committed up to $75 million to the Blackstone Private Multi-Asset Credit Fund. Blackstone is a new relationship for the pension fund.
The committee also approved a commitment of up to $25 million to Top Tier Venture Velocity Fund 5, managed by Top Tier Capital Partners. This private equity fund invests in venture capital firms. Top Tier is an existing relationship.
Both commitments were approved at the committee’s Dec. 10 meeting.
Alternative investments — a combination of real estate, private equity and private debt — account for 26.8% of the New Hampshire Retirement System’s $12.6 billion in assets.
The committee also approved, effective Jan. 1, a five-year renewal for Causeway Capital Management, whose international value equity strategy accounts for $466 million of the retirement system’s assets. An RFP was not required for this mandate.
