Alternatives
An education system based in a Southern state has approved new investments to hedge fund, credit and real estate strategies.
The plan issued an RFP seeking a manager to handle $25 million after approving the search in April.
The three new commitments will total up to $130 million following approval from the full board later this month.
The plan disclosed two private equity commitments at a board meeting yesterday.
The commitment represents a new relationship for the plan.
Plan also expects to receive an international value equity manager search update form its consultant later this month.
Plan added a $50 million commitment to an existing manager relationship.
Plan added $315 million in alternatives commitments with existing manager relationships last week.
The fund approved a revision to its investment policy statement to lift its prohibition of privately placed securities as requested by one its international large-cap equity managers and recommended by its general investment consultant.
The university approved distressed debt and private equity commitments with existing managers within its endowment at its May investment committee meeting.