Hedge Funds
The plan rehired its cash overlay manager and terminated a portable alpha manager.
The plan is seeking several managers to handle a yet-to-be-determined mandate.
The elimination will affect three managers that handle a total of more than $1.7 billion.
The plan disclosed $1.1 billion in total commitments with three new managers and ten existing managers in the fiscal first quarter.
The trust company is looking to commit $150 million to $625 million annually to alternative assets, including alternative fixed-income, hedged equity and private debt, within its endowment.
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.