Hedge Funds
The pension plan received staff recommendations to fully redeem a multi-strategy hedge fund mandate and commit to a global infrastructure strategy today.
The plan is searching for managers to handle more than $850 million.
The pension plan recently committed $275 million total to two funds and terminated existing convertibles and real estate debt strategies.
The system expects to receive a recommendation from its general investment consultant to reinvest funds at a future board meeting after approving the termination of a hedge fund manager last week.
The retirement system made $275 million in new alternatives commitments in recent months.
The plan will conduct a search for multi-asset class credit investment strategies.
The plan is looking to commit $100 million to a newly established credit hedge fund.
The fund expects to receive recommendation from staff and its general investment consultant to hire extended equity 130/30 and multi-strategy hedge fund managers after approving a new asset allocation at its July board meeting.
The university approved five new commitments totaling $81 million to private equity, venture capital, private credit and hedge fund strategies within its endowment.
The foundation added two hedge fund strategies to its portfolio in the first quarter.
