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ARMB directed staff to pursue a sole source procurement with KPMG to perform the SWIFT Assessment for calendar year 2026, with up to two optional one-year extensions, total contract not to exceed $150,000. A Notice of Intent to Award was issued June 10, 2026 with a protest period ending June 22, 2026.

ARMB directed staff to continue developing the private credit portfolio and engage Callan to execute a search process, delegating to the Chief Investment Officer the authority to contract and commit with one private credit manager for up to $50 million. The commitment will be reported back to the Board.

ARMB directed staff to continue developing the private credit portfolio and delegated to the Chief Investment Officer the authority to contract and commit with one private credit manager for up to $100 million. The commitment will be reported back to the Board. Manager not yet named.

ARMB adopted Resolutions 2026-03 and 2026-04, approving the asset allocations for fiscal year 2027.

Trimmed private-equity target amid compressed returns and liquidity pressure (reported among several systems).