Alternatives
Plan added approximately $62 million across three alternatives commitments in recent months.
The plan is searching for its first ever non-discretionary private markets consultant.
The commitments were made for pacing purposes.
Plans added roughly $43.5 million in commitments across five funds this week.
The plan approved up to $400 million to existing private equity managers at today’s meeting.
The plan disclosed three new private commitments at its board meeting today.
Historically black colleges and universities, typically limited by the size of their assets, are looking to gain further access to alternative assets, particularly private equity and venture capital, as they seek to grow their endowments to further their mission as well as capture outsized returns that have swelled higher education institutions’ portfolios, according to investors and allocators.
Fund is backed by several institutional investors and endowments.
The plan approved the search today due to underperformance from it its incumbent bank loan manager.
Plan disclosed two private equity commitments finalized on Feb. 18.