Fixed-Income
The foundation approved new allocations to private debt, real estate and fixed-income strategies in the first quarter.
The university revised the investment policy for its short-term investment pool, broadening the investment guidelines to allow more flexibility to invest in short maturity, higher yielding U.S. government bonds and increasing the amount of commercial paper that can be held.
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 university added a U.S. Treasury strategy after its investment consultant conducted a search to fill a maiden 5% target approved in the first quarter.
The plan will discuss potential real estate and infrastructure allocations at its August board meeting after opting to redeem from its core real estate manager yesterday.
The plan is seeking multi-sector fixed-income managers to handle approximately $43 million.
The plan is seeking a firm to fill its maiden 8.5% target to core-plus fixed-income.
The managers will complement existing core-plus manager TCW.
The plan expects to issue an RFP this year seeking a core-plus fixed-income manager to handle between $100 million and $150 million.
The plan selected a manager after interviewing three finalists last month.