Alternatives
The sustainable investment platform made a strategic minority investment in a minority and woman-owned middle market private equity firm and the investment will provide growth capital to enhance the firm’s infrastructure, capital base, human capital and overall resources.
The plan made an up to $15 million commitment following finalist interviews held last month.
The commitments include two first-time managers for the plan.
The plan approved three commitments, including two re-ups, at its meeting last week.
The search is for due diligence purposes as the plan has worked with its incumbent for “decades.”
The pension plan made private markets commitments totaling $16.25 million last month and will consider a 2024 pacing plan this week.
The commitments were made under the discretion of staff.
The plan received private debt and private equity pacing plans at its investment committee meeting this week.
A report finds that 60% of private equity and venture capital industry professionals expect to see greater cash earnings this year, down from 65% last year.
The foundation added private equity, private credit and international developed markets equity strategies to its portfolio in the second half of 2023.