130/30
The plan has hired its fourth global unconstrained equity manager.
The fund approved restructuring its real estate portfolio in favor of a core-satellite portfolio with a core mandate and two to three satellite managers and also added two 130/30 managers to create a market cap and style neutral portfolio structure.
The fund was slated to receive recommendations to restructure its real estate portfolio and add extended equity managers to its portfolio at its board meeting last week.
The fund expects to receive recommendation from staff and its general investment consultant to hire extended equity 130/30 and multi-strategy hedge fund managers after approving a new asset allocation at its July board meeting.
The pacing plan will commit a total of $825 million to real assets and private equity strategies.