Alternatives
The plan also made two follow-on private equity commitments.
The fund will consider adding an upper middle market direct lending strategy to its portfolio as part of its buildout of some illiquid asset classes.
The institution added private equity and event-driven hedge fund strategies within its endowment in the first and second quarters, while also fully redeeming from a hedge fund manager.
The plan finalized an additional $15 million commitment earlier this week.
The institution approved completely liquidating a domestic large-cap growth equity strategy and an Asian hedge fund strategy last quarter.
The fund expects to receive recommendations to add new multi-strategy hedge fund and international equity managers to its portfolio this month after making a private credit commitment at the end of the third quarter.
The foundation added impact private equity and emerging markets equity strategies with new managers within its endowment in the first half of 2023.
The plan is searching for managers to handle more than $850 million.
The plan hired several managers at its board meeting today, totaling more than $1 billion.
The plan approved a private equity commitment at today’s meeting.