Hedge Funds
The university approved adding a new portable alpha portfolio in one of its main portfolios after first reviewing the consideration in September.
The plan may conduct a search to replace its current underperforming hedge fund-of-funds.
The plan disclosed several new commitments and is nearing a decision on a new asset allocation.
The foundation is considering a maiden alternatives allocation within its portfolio and weighing the addition of hedge fund, infrastructure and private debt investments to fund the allocation.
The plan is in the early stages of evaluating its long/short equity, absolute return and fixed-income credit portfolios.
The foundation approved a maiden private credit target and increased its allocation to hedge funds following an asset allocation study.
The fund is looking to build out its alternatives allocations to align its portfolio with a new strategic asset allocation approved in June.
The plan will seek a real estate manager to handle $30 million to $60 million and recently hired a hedge fund-of-funds manager as part of new absolute return portfolio structure.
The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.
The plan will have further discussions on adding a 3% initial target to private equity at its November board meeting.