Assets have grown to $17.7 billion at SDCERA, which announced a new allocation to an alternative credit fund.
The pension giant also committed another $1 billion to a BlackRock climate fund after dumping nearly $4 billion in public equities earlier this year.
The organization, which started out within the University of Toronto, has grown to a network of the largest institutional funds.
Funds are more sensitive to long-term rates, upon which the Federal Reserve’s action will have little impact.