Equity
The fund approved closing its investment in an emerging markets index strategy and transferring the proceeds into a passive vehicle with two sleeves with an existing manager.
One of three portfolio managers on the international equity team departed.
The plan’s investment subcommittee will consider domestic mid-cap value and emerging markets equity replacement options at an upcoming meeting.
The fund will consider closing its investment in an emerging markets index strategy and transferring the proceeds into a new passive vehicle with an existing manager to provide additional flexibility regarding its exposure to China.
The institution approved venture capital commitments to a firm that marks a new relationship and terminated a hedge fund manager for liquidity purposes and being overweight its targets to the strategies.
The plan hired a new international small-cap manager following interviews that included its incumbent.
The terminations were approved amid the plan’s ongoing international equity manager search.
The plan was unable to invest in a previously selected manager.
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.