Emerging/Diverse Managers
The plan committed roughly $1.2 billion total to four new managers and two existing managers in October.
The firm is looking to hire more diverse managers for client portfolios after adding several diverse firms, particularly in equity, private equity and venture capital, over the last two years.
While diversity, equity and inclusion investments garner attention from the broader industry, U.S. venture capital firms have dedicated less than 2% of their assets to DEI investments, a new study finds.
The organization launched a private market ESG fund that aligns with its environmentalist mission with an initial allocation of $19 million.
The university is an anchor investor in a Black-owned venture capital firm’s first strategy that closed last month with more than $60 million in commitments.
The agency will first hold a virtual conference for interested managers next month.
The plan will also interview three diverse-focused private equity managers next month.
The bill would require colleges and universities to disclose information about investments with diverse managers annually.
The plan is seeking domestic mid-cap value equity managers to handle a $25 million mandate and diverse-owned private equity managers for an up to $3 million commitment.
The firm will now manage approximately $40 million in the plan’s main portfolio.