The fund approved issuing RFPs for infrastructure strategies and private equity strategies in December at its November board meeting.
The investment program was created earlier this year to provide state entities with funds for opportunities to invest in private equity funds, venture capital, growth funds and direct investments in companies based in the state.
The seminary hired a cfo to oversee its fiscal planning, financial management and budget development after its previous finance head left last year to serve as a nonprofit management consultant.
The university also liquidated fixed-income and equity strategies to fund endowment spending and university advancement payouts.
The strategy recently closed above its $250 million to $275 million target fundraise after receiving commitments from 180 investors.
A senior consultant at NEPC left the firm last month to join a Chicago-based investment advisory firm as partner and director of institutional advisory.
The head of investment products will lead strategy and development of the wealth and investment management business’ investment offerings beginning Jan. 1.
The university has added to its investments with a domestic large-cap equity and multi-strategy hedge fund manager since September.
The fund is considering committing to a private equity buyout fund and a co-investment with an existing investment manager within its portfolio.
Wallace reflects on the lessons of rebalancing the portfolio amidst collapsing markets during March 2020, the challenge of scaling alternative strategies at $50 billion, and why the rise of passive investing may paradoxically create opportunities for fundamental investors. He draws on wisdom from his mentor David Swensen’s emphasis on first-principles thinking, the importance of relationships as well as rigorous quantitative work, and the courage required to stand alone when your analysis demands it.