Equity
The plan will receive information on three to four potential managers at a future meeting.
The university will consider gradually eliminating its fossil fuel exposures as well as pivot its target allocation toward illiquid strategies within its endowment this week.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.
The search follows approval of new asset allocation policies, which introduced a 5% target to international small-cap equity for each plan.
The plan approved a consultant recommendation to replace its domestic large-cap growth equity manager last quarter.
The hire concludes the plan’s search to replace Allspring Global Investments, which was terminated last year due to underperformance.
The termination follows a completed asset/liability study.
The plan also named two semifinalists in its general investment consultant search.
The firm launched an ESG fund targeting U.S.-based companies helping to facilitate clean energy, pollution reduction, energy efficiency and social justice.
The plan increased its fixed-rate debt target by reducing its public equity target last month.