Emerging/Diverse Managers
The retirement fund disclosed commitments totaling roughly $2.1 billion in May.
The investment consultant saw an increase to both client assets with diverse firms as well as client strategies managed by diverse firms in 2023, according to its latest report.
The pension plan funded one of its separate account mandates for the global equity emerging manager program last month.
The plan also approved a new international equity structure and a real estate pacing plan at today’s board meeting.
The pension plan liquidated its approximately $1.9 billion international equity mandate and made commitments totaling $108 million in April.
The search is open to equity or debt-related real estate strategies.
A consulting firm increased the number of diverse managers in institutional client portfolios to 331 in 2023 from 285 in 2022, 270 in 2021 and 190 in 2020.
With limited hours in the day, timing is important for allocators to be conscious of when seeking new firms, while emerging managers can benefit from knowing one’s audience, according to a recent webinar.
The plan is seeking developed markets equity managers to handle a $50 million allocation.
The foundation is looking to allocate more of its endowment to diverse-owned managers and impact investments within Native American communities after approving a new strategy in the fourth quarter.