Alternatives
The university will consider committing additional capital to an existing real estate strategy as the firm eyes a more robust opportunity set than anticipated and prefers to increase the size of the fund rather than raise a new one.
The firm, which allocates private debt capital to microfinance and small and medium-sized finance institutions, has promoted its coo to ceo to handle day-to-day management.
Plan closed on three private equity commitments totaling up to $88.5 million in May.
Plan committed an additional $350 million to its in-state private equity investment program, which was established in 2000.
Plan’s investment committee was scheduled to interview four firms in the search for an up to $60 million allocation.
Plan will review two funds previously narrowed from a direct lending search presented in February.
Plan’s board committed $130 million to a private equity energy fund and was notified of an additional private equity commitment this week.
Plan’s new 4% target to private equity will help increase its expected return.
Commitment is with a private equity strategy centered around making investments in the North American midstream energy sector.
The university added several venture capital strategies and a buyout private equity fund to its endowment in the first quarter.