Meantime, the fund has filed another mandate in its alternatives portfolio by investing $50 million in Anchorage Capital, a distressed debt manager based in New York.

The manager was selected after a due diligence process in which alternatives consultant Sovereign Investment Research visited the manager, and other “contacts into that world”, including other alternatives managers such as the former Stanford University endowment chiefs behind Makena Capital Mangement, cross-referenced Anchorage for Sunsuper, Hartley said.