Alternatives
The fund approved fully redeeming from a real estate manager this week due to continued underperformance as its strategy has been affected by its concentration in office and retail properties.
Public pension plans were most active in the private equity asset class in the first quarter, according to data compiled by FIN Searches.
The plan approved venture capital and real estate commitments and announced the upcoming departure of its cio at its meeting today.
The system recently added a long/short hedge fund investment with a new manager and two venture capital commitments with an existing manager in its endowment.
Plan approved four fund commitments totaling more than $360 million today.
Plan added a follow-on commitment to a multi-family real estate fund in April.
The foundation hired a private credit manager and made commitments to two existing private equity managers during the first quarter.
Plan made commitments to eight existing managers and one new manager last month.
The plan made a $20 million commitment at its special meeting yesterday and anticipates making annual commitments to additional funds moving forward.
Plan added a $15 million commitments the first of five total to be proposed in 2022.