Equity
The university updated the fund’s asset allocation targets on the heels of several manager hires earlier in the year.
The nonprofit hired a new active domestic large-cap equity manager last month after deciding to move away from passive equity management this summer.
The plan is conducting the searches to comply with state procurement law.
The hires conclude a search first approved in June.
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 plan retained two managers based on the recommendation of its general investment consultant.
The plan will receive a recommendation to restructure its equity portfolios at a meeting this week, including terminating managers.
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 pacing plan will commit a total of $825 million to real assets and private equity strategies.
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.
