Asset Study/Review
The plan’s investment committee initially received an asset/liability education in May.
The retirement fund adopted the new targets after receiving an asset allocation study at a meeting this week.
The university has begun the process of reviewing a resolution that would limit basing investment decisions on political and social events unrelated to the university in response to campus pressure to divest from companies involved with the Hamas-Israel armed conflict.
The fund will review the asset allocation for its portfolio later this year, including changes to targets and the addition of new asset classes, as capital market assumptions have changed significantly since a review was last conducted in 2021.
The pension plan approved a fiscal year 2025 real estate investment plan on Friday that calls for $240 million in total commitments to the asset class.
The pension plan hired a private debt manager and a private equity fund-of-funds manager to each handle 2% allocations in February.
The retirement system introduced a 3% public real assets target and made two private equity commitments in February.
The pension plan eliminated its 5% real estate target as part of a new asset allocation policy approved in the first quarter.
The university has incorporated an investment policy prohibiting proxy votes based on ESG-like considerations and slightly adjusted a hedge fund portfolio after completing an asset allocation study.
The fund is looking to add buyout, growth, venture capital and GP-led secondaries strategies to its endowment.
