Hedge Funds
The college is fine-tuning its hedge fund and private equity portfolios in the near term as it makes progress on its long-term goal to divest from fossil fuel investments.
The fund anticipates hearing recommendations to add new multi-strategy hedge fund managers as well as introduce long-short active management in the international equity portfolio at its board meeting today.
The retirement fund began a search in June due to contract expiration of its incumbent consultant.
The university added two hedge fund strategies with existing managers within its endowment in the third quarter.
The plan will withdraw prior to the fund’s closure in December.
The pension plan’s hedge fund committee considered four commitments and a manager termination at its meeting this month.
The plan added approximately $300 million in commitments across August and September.
The plan’s real estate committee approved four commitments in August and its hedge fund committee terminated an existing mandate in July.
The institution added private equity and event-driven hedge fund strategies within its endowment in the first and second quarters, while also fully redeeming from a hedge fund manager.
The institution approved completely liquidating a domestic large-cap growth equity strategy and an Asian hedge fund strategy last quarter.