The university is planning to conduct a strategic asset allocation study later this year after it terminated a global bond mandate and reallocated the funds to short-term bond and growth equity funds this month.
Plan hired a new fixed-income manager to handle an initial $350 million mandate and disclosed six other commitments last month.
Plan is seeking private debt managers to each handle an up to $100 million mandate and approved new asset allocation policies last week.
Plan terminated its passive fixed-income manager to improve historical risk-adjusted performance.
The endowment made $30 million in initial investments from its $300 million social bond, which was issued in early 2021.
Addition of emerging market fixed-income and high-yield bond strategies last month offers participants opportunities for additional yield.
The plan’s incumbent was first hired in 2016.
College savings plan will exclusively invest in fixed-income and cash after eliminating its equity exposure late last month.
The system added a new minority-owned fixed-income manager across two portfolios in late 2021.
The four new firms help make up the plan’s new $5.2 billion fixed-income structure.