Alternatives
The university approved private equity, real asset, international equity and fixed-income investments with new managers in the second half of 2022.
Plan selected a maiden private credit consultant following finalist interviews held this week.
The plan committed a total of $350 million across two commitments at today’s meeting.
Plan has launched a private credit RFP intended to fill a maiden allocation to the asset class.
As nonprofit investors expect market volatility to continue, with the possibility of an economic recession on the horizon, many are seeking early-stage private equity, private debt, real estate, infrastructure or hedge fund strategies to capitalize on macro trends that include a slowdown in economic growth, rising inflation, emerging technologies and demographic trends.
Mega endowments continue to outpace their smaller peers despite the challenging market environment due in part to greater allocations to diversifying alternative asset classes, according to a recent report.
The university added a private equity commitment and a hedge fund investment with new firms in the second quarter.
The value-add real estate manager has promoted an asset manager to v.p. of asset management to oversee its asset management team and take over responsibility for risk management.
The firm has added a green energy infrastructure investment team to its Asia business and the transaction is expected to be completed next month.
The university also pivoted one of its retirement plans toward fixed-income during the fourth quarter.