Alternatives
The search is for due diligence purposes as the plan has worked with its incumbent for “decades.”
The pension plan made private markets commitments totaling $16.25 million last month and will consider a 2024 pacing plan this week.
The commitments were made under the discretion of staff.
The plan received private debt and private equity pacing plans at its investment committee meeting this week.
A report finds that 60% of private equity and venture capital industry professionals expect to see greater cash earnings this year, down from 65% last year.
The foundation added private equity, private credit and international developed markets equity strategies to its portfolio in the second half of 2023.
Nonprofits still see opportunities in alternative asset classes, like smaller or specialized buyout strategies, venture funds or private debt strategies that benefit from macro trends like the higher interest rates, rapid development of artificial intelligence or transition to clean energy.
The university made private infrastructure, growth equity and venture capital commitments within its endowment during the third and fourth quarters.
The university revised the asset allocation for its endowment last year, increasing its allocation to private market investments at the expense of marketable alternatives.
The firm’s latest fund targeting value-added investments in hotels across the U.S. was oversubscribed after receiving commitments from endowments, foundations, public and corporate pension plans, insurance companies and wealth management firms.
