The New Hampshire Retirement System (NHRS) has approved two major commitments to alternative investments, totalling a combined $100m, as part of its ongoing strategy to diversify its portfolio, according to a report by Pensions & Investments.
In a new investment relationship for the pension fund, its independent investment committee committed up to $75m to the Blackstone Private Multi-Asset Credit Fund. An additional $25m commitment, meanwhile, was approved to Top Tier Venture Velocity Fund 5, an investment vehicle managed by Top Tier Capital Partners, which invests in venture capital firms.
NHRS has an existing relationship Top Tier.
Alternative investments — which include real estate, private equity, and private debt — represent 26.8% of NHRS’s total assets, valued at $12.6bn. These new commitments aim to further bolster the system’s exposure to diversified and high-performing asset classes.
