Hedge Funds
Two of the searches stem from a revised asset allocation adopted last month.
The plan hired two hedge fund managers after conducting finalist interviews at a meeting today.
The pension plan is seeking several managers to handle a yet-to-be-determined mandate.
Nonprofits still see opportunities in alternative asset classes, like smaller or specialized buyout strategies, venture funds or private debt strategies that benefit from macro trends like the higher interest rates, rapid development of artificial intelligence or transition to clean energy.
The university fully liquidated a hedge fund investment within its endowment in the fourth quarter and reinvested the proceeds in a money market fund.
The institution approved new hedge fund, private equity and venture capital commitments in the fourth quarter.
The institution revised its strategic asset allocation last year, increasing its allocation toward growth assets like public equity and private equity.
The pension plan expects to conclude the search at its June 12 board of investments meeting.
The pension plan’s hedge fund committee approved four commitments and a manager termination at its meeting in October.
The foundation added a private infrastructure fund and a hedge fund strategy to its portfolio in the second quarter, marking new relationships for the institution.