Alternatives
The fund approved the addition of an upper middle market direct lending manager as its general investment consultant viewed the strategy as complementary to existing managers in the portfolio.
The foundation made a commitment to a local venture fund that aims to boost businesses owned by people of color in the region.
The foundation committed an undisclosed amount as an anchor investment to a new private credit strategy focused on senior secured facilities, mezzanine facilities and participating capital and asset-backed loans.
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.
