Commodities
The London-based firm has closed its oversubscribed third fund, which invests in mining and energy transition metals, at its hard cap, marking the largest fundraise in the firm’s fund series.
CIO Jonathan Grabel recently rehired the trust’s public markets passive manager and the pension plan made a $270 million private equity commitment this week.
The plan hired a firm to handle its maiden commodities allocation and committed to an existing private equity manager yesterday.
The plan hired two firms to fill a new allocation to the asset class.
The fund approved divesting its portfolio of direct holdings in companies that boycott energy companies and Israel after a state agency released a list of companies that must be divested from last year.
The manager has trailed its benchmark for two consecutive quarters.
The plan’s incumbent manager will see its contract expire this year.
The plan expects to conclude the search process in the third quarter.
The university foundation added several strategies spanning private equity, domestic equity, commodities and high-yield and investment grade fixed-income within its endowment last year.
Plan added alternatives commitments in September, August and July.