Hedge Funds
Plan added a hedge fund commitment to an emerging manager in addition to a pair of private equity commitments.
The plan liquidated its $8.5 million hedge fund-of-funds mandate in May.
The plan terminated its current global long/short hedge fund-of-funds manager.
The fund approved a new strategic asset allocation to continue to move its assets toward an endowment style portfolio with private markets investment exposure.
Plan approved a $7 million investment in a credit hedge fund at today’s board meeting.
Plan will issue the RFP next month on its general investment consultant’s website.
Plan will seek a real estate manager to diversify its portfolio.
Plan’s board considered terminating an emerging markets value equity manager and disclosed several alternative commitments and manager terminations last month.
The institution increased its allocation to venture capital and domestic equity allocations last week through target reductions to diversifying investments, international developed equity and emerging markets equity.
