East Coast Pension Cuts Public Equity

The USD11.5 billion New Hampshire Retirement System is downsizing its allocation to global equities as a result of its strategic asset allocation review for 2023. NHRS’ independent investment committee earlier this month approved changes including slashing its public equity allocation from to 40% from 50%, increasing private credit to10% from 5% and creating a new allocation to private infrastructure of 5%, according to the meeting minutes.