Alternatives
The university made private infrastructure, growth equity and venture capital commitments within its endowment during the third and fourth quarters.
The university revised the asset allocation for its endowment last year, increasing its allocation to private market investments at the expense of marketable alternatives.
The firm’s latest fund targeting value-added investments in hotels across the U.S. was oversubscribed after receiving commitments from endowments, foundations, public and corporate pension plans, insurance companies and wealth management firms.
The commitments include three new relationships for the plan.
The plan made several commitments in alternatives asset classes in November and December.
A total of six new commitments and two terminations were reported this month.
The plan also revised its upcoming fixed-income and international equity manager search timelines.
The alternative credit manager has closed its second collateralized fund obligation, which will invest in U.S. senior lending, junior capital and equity co-investments, just below $200 million.
The university fully liquidated a hedge fund investment within its endowment in the fourth quarter and reinvested the proceeds in a money market fund.
The institution approved new hedge fund, private equity and venture capital commitments in the fourth quarter.