Alternatives
Endowments and foundations’ allocations to alternatives have surpassed domestic equity as the largest institutional allocation, while liquidity management and portfolio resilience have become important portfolio themes, according to a recent study.
The university approved four private equity commitments, including one with a new manager, as well as a private real assets commitment at its June investment committee meeting.
The university added new private equity and venture capital managers within its endowment earlier this year on the heels of new commitments to existing managers.
The plan also approved $25 billion in passive investments with a firm as well as private equity commitments at today’s meeting.
The plan also made slight adjustments to its asset allocation at its meeting this week.
The plan is seeking private equity and private credit strategies for a projected mandate of $20 million to $25 million.
The state pension fund approved the hire at today’s board meeting, expanding its existing agreement with its alternatives investment consultant.
The governor vetoed legislation that would have mandated the state’s public universities invest a portion of their endowments into innovation funds, finding it did not adequately recognize the independent fiduciary responsibilities of the institutions.
The foundation is considering introducing alternatives investments within its portfolio after hiring a new firm to provide non-discretionary investment consulting services to conclude an RFP process from last year.
The state pension fund will hire a consultant for its risk diversifiers portfolio at this week’s board meeting.
