Alternatives
The retirement system added the two new asset classes as part of a completed asset allocation study.
The pension fund committed $10 million to a new relationship at this month’s board meeting.
The university is exploring the sale of some of its private equity fund interests within its endowment on the secondary market.
The global private equity manager is entering a strategic partnership with an investment and wealth management firm after making a strategic investment in the mid-Atlantic-based firm.
The university recently hired a senior investment officer focused on private equity from a mid-Atlantic-based institution, where they worked for more than 14 years.
The commitments were made across private equity, credit and real assets totaled $725 million.
The plan was informed of two staff-delegated commitments at its April 17 board meeting.
The plan approved a private equity commitment at its board meeting this week.
The retirement system committed to three existing manager relationships in the past two weeks.
The global private investment firm recently invested $825 million in the insurance and asset manager to acquire a nearly 10% stake in the company.