Alternatives
The plan’s hedge fund committee considered a $175 million commitment last week.
The termination follows a completed asset/liability study.
The plan committed to three funds run by new manager relationships.
The plan agreed to assign its alternatives consultant contract to its current general investment consultant last week.
The plan approved a private equity commitment and was informed of staff-delegated investments this week.
The plan will include its two incumbent international value equity managers in a search to review the asset class universe.
The searches will help fill out an asset allocation approved in 2021 that included new targets to the asset classes.
Smaller endowments should reassess their portfolios to incorporate private equity as opportunities for greater returns arise.
The firm formed a private investment company to source, research, deliver and manage private investments for clients and has named one of its partners to head the entity.
The plan’s general investment consultant informed the board that an RFP would go out this year.