Alternatives
The plan elected to split a 2.5% allocation to marketable alternatives between two firms last month.
The fund approved a new strategic asset allocation to continue to move its assets toward an endowment style portfolio with private markets investment exposure.
The university is creating a sizeable endowment to support scholarships for disadvantaged students that also includes a venture fund for student and alumni entrepreneurs.
The commitment appears to represent a new relationship for the university.
The plan approved a re-up commitment of up to $20 million in May.
Plan committed to firm’s fourth fund after previously committing to each preceding fund.
Plan approved a $7 million investment in a credit hedge fund at today’s board meeting.
Plan disclosed three May commitments totaling $140 million.
Plan is seeking one to three global ex-U.S. equity managers and agreed to restructure its opportunistic and alternative fixed-income portfolios this month.
The firm hired a senior v.p. and consultant advisor for U.S. institutional services to work with relationship management teams and serve as a liaison with clients and consultants with a focus on the firm’s alternative investment capabilities.