The trust company is looking to commit $150 million to $625 million annually to alternative assets, including alternative fixed-income, hedged equity and private debt, within its endowment.
The Western-based firm closed its inaugural fund, which invests in early-stage climate tech companies, with approximately $90 million in total commitments, above its $50 million target.
The plan expects to further discuss an international developed markets equity manager search at its upcoming board meetings and recently disclosed five private equity commitments.
The fund aims to provide investors access to a global, diversified portfolio of direct co-investments in buyout, growth equity and other private markets transactions.