New Hampshire Retirement Increases Target to Private Credit, Infrastructure

The New Hampshire Retirement System has approved the new target allocation mix at the November 14 board meeting. The new mix would decrease the global equity target while increasing the target to private credit and infrastructure.

The new target asset allocation mix presented is as follows:

• Global Equity 40% (-10%)
• Fixed Income 25%
• Core Real Estate 10%
• Private Equity 10%
• Private Credit 10% (+5%)
• Private Infrastructure 5% (+5%)

The $11.4 billion retirement system will reduce their global equity from 50% to 40%, increase their private credit allocation from 5% to 10%, and create a new allocation of 5% to private infrastructure.

Callan assisted with the asset-liability study.

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