Fixed-Income
The plan will receive a list of active duration fixed-income managers next month.
He will focus on investment-grade credit for the specialized fixed-income investment team.
The portfolio manager joined the firm this month and is responsible for overseeing global bond portfolios.
The plan hired an existing manager to temporarily handle a roughly $70 million allocation and announced the promotion of an investment officer at a meeting yesterday.
The plan began a search last year to complement its core-plus manager.
The plan first hired Highclere International Investors in 2019.
The plan increased its private credit target and added a commitment within the non-core fixed-income portfolio yesterday.
The university will consider adding a passive domestic large-cap value strategy to provide a more balanced approach to its equity portfolio and a private debt manager as it looks to build out its allocation to the asset class.
The increased commitment will provide the plan with “an equal-weighted exposure” between its U.S. and European private credit managers and the termination will reduce volatility.
The plan committed $20 million to a new opportunistic credit manager.