Alternatives
The plan also appears to have reissued its private markets consultant RFP.
The plan also placed its core fixed-income manager on watch in recent months.
The university is seeking an investment manager to take primary accountability for its private investment portfolio, which makes up 40% of its long-term investment portfolio.
The retirement fund also adopted a new long-term strategic asset allocation.
The plan also made a private equity commitment in the second quarter.
The plan will hear presentations from 12 total private credit finalists this month.
The trust fund approved new international equity, private equity co-investment and a private credit secondaries investments during its board meeting last week.
Nonprofit investors should look for niche private credit opportunities as they can provide portfolio diversification and strong yields with less beta market risk than mid-market direct lending strategies, which represent the lion’s share of the private credit universe.
The university added a new hedge fund manager and committed to an existing private equity manager within its endowment in the third quarter.
The investment fund is seeking large-market private equity buyout and non-core infrastructure strategies.