Asset Study/Review
The university increased its targets to private equity and global equity at the expense of hedge funds.
The plan added up to $340 million in commitments to existing private equity and real estate manager relationships.
The plan will target 5% each to the new asset classes.
The plan approved a new asset allocation for its Core Trust Fund yesterday.
The university’s board of regents voted to join the system as a member institution last month in part because of its larger applicant pool and access to long-term investment funds.
The plan may conduct a search to replace its passive core fixed-income manager next year following an asset allocation study.
The university updated the fund’s asset allocation targets on the heels of several manager hires earlier in the year.
The fund is looking for multi-family real estate specialist managers as it looks to transition some of its portfolio’s overweight industrial exposure to multi-family real estate.
The university is looking to invest $300 million of its short-term working capital in the debt securities of high-performing companies that meet a certain ESG rating threshold.
New policy expands investment options with new minority and women business enterprise and ESG options.
