Andrew Hedlund
The new hire’s responsibilities at his old shop included portfolio management and underwriting.
Just 1% of the private debt capital raised in the first half of the year went to Africa-focused funds.
Two of the storied firm’s founders say the promotions are ‘about the future’ and making sure the firm can serve its investors ‘for decades to come’.
The chief investment officer for the US’s largest pension fund emphasised long-term performance over short-term results on a media call with reporters.
The vehicle will target deals in the US involving a private equity sponsor.
The new CIO has been with the pension system for more than 20 years.
The acquisition’s approval comes after Fortress announced an agreement to sell the largest piece of its asset management business to MetLife.
The asset manager has invested more than $500m from HarbourVest Partners Co-Investment IV.
The new hire has sat on the board of directors of at least several technology-based businesses.
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Officials at the public retirement plan behemoth are set to provide feedback on Monday.