Alternatives
The firm recently closed its fourth private equity fund and second independent sponsor-focused fund after reaching its hard cap with more than $1.1 billion in commitments.
The plan terminated a domestic mid-cap core equity manager due to organizational and performance issues.
The state pension is canvassing the universe for buyout and growth managers raising less than $1 billion in a Fund I, II or III for in-person interviews to be held at the end of July.
The retirement system is looking to invest in the asset class for the first time.
The pension fund’s board approved up to $550 million across two commitments at a meeting today.
Endowments and foundations’ allocations to alternatives have surpassed domestic equity as the largest institutional allocation, while liquidity management and portfolio resilience have become important portfolio themes, according to a recent study.
The university approved four private equity commitments, including one with a new manager, as well as a private real assets commitment at its June investment committee meeting.
The university added new private equity and venture capital managers within its endowment earlier this year on the heels of new commitments to existing managers.
The plan also approved $25 billion in passive investments with a firm as well as private equity commitments at today’s meeting.
The plan also made slight adjustments to its asset allocation at its meeting this week.
