Alternatives
The plan approved up to $650 million in new private commitments at its board meeting yesterday.
The firm will help Macquarie offer alternative investment strategies to high-net-worth clients.
Plan added $225 million in private equity commitments in early February.
Plan will target direct lending, structured credit, distressed and special situations, specialty finance and multi-asset strategies in a private credit search scheduled to launch this week.
The plan chose the firm over finalist State Street Global Advisors and committed to three private equity managers this week.
The plan is searching for a co-investment manager for its private markets portfolio.
Plan’s investment committee will review a proposed RFP to fill a new 3% target to the asset class.
The foundation’s previous investment director focused on private markets was promoted to managing director in the fall as part of investment office succession plans.
Two foundations have committed to a strategy that invests in funds and direct co-investments backed by diverse and women-owned venture capital and private equity firms to advance greater diversity, equity and inclusion in the financial markets.
A community foundation added a new fixed-income manager across two of its portfolios and two hedge fund managers in its socially responsible investment portfolio last year.
