Emerging/Diverse Managers
Community foundations are increasingly hiring or considering hiring diverse managers for their portfolios, according to a recent survey.
The plan initiated a search for a private equity emerging manager to fill a commitment capped at $10 million and completed a core real estate search this week.
The plan is considering two private markets managers for its emerging manager program.
The plan hired a new emerging market debt blended currency manager at the meeting, which also included discussions around including diverse asset managers in future searches.
The Midwestern based firm has launched a partnership with tribal governments nationwide to provide access to capital to indigenous entrepreneurs and offer education about the opportunities and pathways that exist for success.
All participating institutions had more than 5% of their U.S.-based assets with diverse-owned firms, however, more than two thirds of the wealthiest 25 private and 25 public college and university endowments refused to participate in an assessment of the diversity of their asset managers.
Brasa Real Estate Fund II closed with $450 million in commitments.
Plan hired a new fixed-income manager to handle an initial $350 million mandate and disclosed six other commitments last month.
Firm’s strategy had underperformed the MSCI EAFE Index over the one- and three-year periods ending March 31.
New v.p. previously spent time as an investment analyst at one of the manager-of-managers’ institutional clients.
