Daily Feed
The pension fund may receive a recommendation on more specialized managers in the asset class later this summer.
The retirement association was notified of two real estate commitments and one private equity commitment last week.
Brendon Reay serves as managing director of investments at the Bush Foundation, leading management of the Minneapolis-based foundation’s approximately $1.5 billion endowment. Reay took the time to answer five questions with FIN News.
The firm’s managing director of institutional sales had joined in September 2014.
The search follows underperformance within the asset class.
The plan interviewed four finalists in the search last month.
The plan is replacing an existing equity manager and making its first private equity investment since 2019.
The retirement system made seven private markets commitments totaling $35.6 million last month.
The pension plan replaced a domestic large-cap value equity manager in the first quarter.
The pension system made its first traditional private equity buyout commitments in years at today’s board meeting.
