The university system has added a fossil fuel-free passive index strategy to align with its recent mandate to divest its portfolios of direct and indirect investments in fossil fuels.
The university approved terminating an active domestic large-cap value equity mandate and transitioning the assets to two passive index strategies alongside plans to ask the state legislature to create a $1 billion permanent endowment.
The plan is conducting the search due to the April 2023 contract expiration of its incumbent, which was rehired in 2018, 2013 and 2008 following similar searches.
The university has promoted a senior portfolio manager to managing director following a search for the position after its previous managing director retired.