Alternatives
The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.
The institution has drafted a private equity co-investment policy framework alongside its general investment consultant that will be presented at a future meeting.
The university disclosed follow-on commitments with five venture capital managers made in the second quarter.
The foundation is looking to build out its private investment allocations to reach its asset allocation targets in the near future.
The fund approved an up to $300 million commitment with a minimum investment of $250 million to an existing real estate manager.
The plan committed roughly $300 million total to four buyout strategies last week.
The strategy is more than twice the size of its predecessor fund and will invest in underserved lower middle market businesses with a focus on healthcare, software and services industries.
The system increased its investment with an existing long/short hedge fund manager and added two private equity commitments with existing managers earlier this month.
The plan committed $25 million to a new non-core real estate manager and approved a fiscal 2023 private markets pacing plan this month.
Plan will look to increase a direct lending fund-of-one commitment to $500 million from $300 million this week.
