Credit/Private Debt
The changes will harmonize the investment grade fixed-income portfolios between the board’s three investment plans.
The plan’s investment committee hired an emerging markets core equity manager and approved two credit commitments last week.
The university disclosed follow-on commitments to existing credit, venture capital and private equity manager relationships made between September 2022 and January.
The plan hired four credit managers to handle a total of $31 million at its February board meeting.
The plan hired two international equity managers to handle up to $700 million total last week following a search from 2022.
The plan’s real estate committee considered two credit commitments totaling $125 million earlier this month.
The plan’s private markets consultant will present a private debt portfolio update this week.
Plan staff is considering searches in small-cap equity and multi-asset credit searches later in 2023.
The plan made a pair of private credit commitments and one private equity commitment last month.
Plan added a 3% target to private credit as part of broader asset allocation changes approved today.
