Cash
Western Asset Management had been on the plan’s watchlist since September.
The pension plan recently made $1.8 billion in total commitments across its dynamic strategies, private equity and real assets portfolios.
The city is seeking a firm to manage a portion of its cash portfolio.
While U.S. healthcare systems continue to look to increase their allocations to alternative investments, they are also reporting an increased interest in cash and fixed-income, a new study finds.
The foundation approved a new investment policy statement and revised its target asset allocation, including maiden short-duration fixed-income and cash targets last week.
2023 was supposed to be a down year for foundations and endowments with a potentially recessionary environment, however, equity and bond returns came out in the green, thanks in part to strong fourth quarters, leaving investors and allocators with a more optimistic outlook for their portfolios entering 2024.
The plan issued an RFP seeking a manager to handle $25 million after approving the search in April.
The institution approved venture capital commitments to a firm that marks a new relationship and terminated a hedge fund manager for liquidity purposes and being overweight its targets to the strategies.
The university has issued an RFP seeking firms to invest its cash reserves in low-risk liquid investment instruments after conducting a similar search in 2016.
Authority has issued yearly RFQ for investment management services.