Alternatives
Plan added an up to $50 million commitment to an existing manager relationship.
The plan hired two firms to provide alternative asset consulting at its board meeting last week.
The search is due to the incumbents’ upcoming June 30 contract expirations.
The plan was notified of four commitments in closed session at yesterday’s board of investments meeting.
The plan will also target more $720 million to alternative funds in 2023.
The plan is searching for a private credit/debt consultant and will lose a team member of 30 years and head of its fixed-income and global income strategies since 2000 to retirement.
The college is divesting from indirect investments in companies that support fossil fuel development as part of its goal to achieve campus-wide carbon neutrality by 2025.
Texas state governmental agencies appear to be continuing external manager relationships with BlackRock while being forced to divest direct holdings exposure to the firm as it is included in Comptroller Glenn Hegar’s initial list of financial companies that boycott energy companies.
The university approved a private credit commitment within its endowment last month that appears to represent a new relationship.
The firm hired a head of ESG to develop an ESG strategy and standardize and enhance its ESG strategies.