By Muskan Arora
The $42.7bn Nebraska Investment Council has hired Aksia as
its speciality investment consultant and re-hired Aon Investments as its
general consultant, following the release of the RFP in June.
CIO Ellen Hung, at the Feb 27th meeting, stated
that the council had approved the hiring of these consultants and is currently
working on contract negotiations.
In June, the pension plan had formed a committee to review
proposals for an RFP which was issued for one or more consultants.
The scope of services provided by the general consultant
will include asset liability study, strategic asset allocation, portfolio
structure, manager selection and ongoing review, development of Investment
Policy Statements, performance reports and work with the specialty consultant
as needed.
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The scope of services provided by the specialty consultant
will include annual review and development of pacing plans, support the
selection and on-going monitoring of private real estate and private equity
fund managers, performance reports and work with the general consultant as
needed.
Further details will be revealed in the upcoming meetings.
On another note, the council further approved a commitment
of up to $13m to New Mountain Capital, a continuation vehicle with the New
Mountain Partners V.
The continuation vehicle is for one of the fund’s portfolio
companies – Real Chemistry, a health innovation company focused on data and
solution components to bio pharma and health care industry.
“The potential organic growth of Real Chemistry plus the
additional growth options in M&A activity make the CV an attractive
opportunity. The size of the CV makes it large enough to still have an impact
on the Private Equity portfolio without causing the NIC private equity
portfolio to be overallocated to health care,” as stated in the staff memo.
The pension plan returned 21.7%, 6.1% and 9.6% as its 1-,3-,
and 5-year returns against a benchmark of 22.7%, 5.2% and 8.8% respectively, as
of September 30, 2024.
