Emerging/Diverse Managers
The foundation is looking to add diverse-owned managers, of which currently has four, to its portfolio along with regionally focused investments.
Historically Black colleges and universities have had to operate without the support and resources made available to their peers traditionally, yet they have persisted in fostering their students and communities.
The institutions are facing new and increased pressure to leverage their endowment investments to ensure continued independence and long-term sustainability, something that is proving to be difficult as HBCU investment returns have lagged their non-HBCU peers for the past three years due to smaller allocations to alternatives and significantly fewer investment management resources, among other factors.
The pension plan made opportunistic real estate and buyout commitments totaling $275.5 million in January.
Three large foundations have committed to a women- and BIPOC-led private investment manager’s second private equity fund, which held its final close.
The institution is seeking emerging stock managers as it looks to host a roundtable event in late March or April.
The sustainable investment platform made a strategic minority investment in a minority and woman-owned middle market private equity firm and the investment will provide growth capital to enhance the firm’s infrastructure, capital base, human capital and overall resources.
The six managers will each handle a maximum of $600 million.
The pension plan liquidated its approximately $210 million domestic small- to mid-cap growth equity and made commitments totaling $120.5 million in November.
The pension plan liquidated an approximately $237 million global equity mandate and made commitments totaling $1.4 billion in October.
The organization requested data from leading nonprofit hospital corporations in the U.S. on how they utilize Black and other minority or women asset managers to handle their assets, which total nearly $300 billion.