Sacramento County Employees ended a mandate with one small-cap growth equity manager, marking the key new move disclosed on June 12.
The report did not identify the manager or the size of the allocation, leaving the immediate portfolio impact unclear.
The disclosure appeared alongside broader market attention on private credit secondaries, where liquidity pressures and scrutiny of BDC redemptions are driving rapid growth.
That backdrop underscores how institutional investors are reassessing manager lineups and liquidity exposure across alternative and public-market strategies.