Hedge Funds
The foundation added several strategies to its marketable alternatives portfolio during the first half of the year.
The commitments include a $300 million commitment to a separately managed account focused on private credit emerging managers.
The pension plan’s investment committee approved four commitments totaling $275 million last week.
Plan liquidated its 5% risk parity allocation in March and reallocated the target to hedge funds, a new allocation for the plan.
The university has incorporated an investment policy prohibiting proxy votes based on ESG-like considerations and slightly adjusted a hedge fund portfolio after completing an asset allocation study.
The pension plan will liquidate its entire domestic equity roster.
The pension plan recently committed up to $75 million to an existing hedge fund manager relationship and tweaked its private equity sub-asset class targets.
The fund is currently searching for opportunistic credit managers for its portfolio after consolidating its public credit portfolio into a passive U.S. aggregate bond index in the first quarter.
The pension plan has selected one firm to provide hedge fund, credit and real assets consulting services.
The pension plan approved three commitments with an existing manager relationship last week.