Absolute Return
The plan’s hedge fund committee considered a $175 million commitment last week.
The plan is watching two absolute return managers due to concerns related to turnover and portfolio construction.
The plan is seeking several managers to handle a yet-to-be-determined mandate.
The university has promoted a senior portfolio manager to managing director following a search for the position after its previous managing director retired.
The plan will seek a real estate manager to handle $30 million to $60 million and recently hired a hedge fund-of-funds manager as part of new absolute return portfolio structure.
The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.
He will be responsible for the performance of BNPP AM’s flexible and absolute return funds.
The managing director of public markets and absolute return is retiring after more than 23 years at the institution.
The plan approved a credit commitment with an existing manager and an internally managed absolute return allocation last week.
The plan redeemed an absolute return investment and disclosed five private markets commitment.