Alternatives
The foundation is looking to add more private equity, real assets, special situation and impact-focused investments this year.
The firm had been on watch for underperformance since the summer.
The state authority is seeking firms to deploy capital on behalf of four fund opportunities.
The plan eliminated a 5% target to emerging market debt and redistributed it amongst existing asset classes.
Plans added a re-up commitment to a private equity firm and a new commitment with a real estate firm this week.
The plan disclosed various private credit and private equity commitments at today’s board meeting.
A new survey showed that many nonprofit investors expect to increase their allocations to alternative assets this year for diversification benefits and to increase portfolio performance.
The institution hired two domestic small-cap equity managers and added two venture capital commitments with existing managers at a meeting late last week.
New allocation is contingent on full board approval after receiving approval from the investment committee this week.
Plan expects to add private equity commitments totaling $60 million following investment committee approval earlier this week.
