The pension fund will increase private market assets to 40% of its portfolio, up from 33%, reducing equities and fixed income.
These alternative asset funds reduce distributions to investors amid high rates and recession jitters.
The plaintiffs allege Lockheed did not choose the safest annuity provider after AT&T was sued earlier in the week for making a similar deal with Athene.
The CIO looks to ‘critical trends’ of decarbonization, deglobalization and demographic dynamics as portfolio drivers over the next 10 years.