Hedge Funds
The search will be conducted due to the upcoming contract expiration of incumbent Albourne.
The new asset allocation introduces a 6% target to hedge funds.
The redemption is the fourth one this year for the plan.
The pension plan will liquidate its $227.5 million timber mandate and $106.4 million farmland mandate due to underperformance.
The firm has hired a head of international quantitative strategies to lead its international quantitative investment portfolio, including oversight of research and strategy and management of the firm’s quantitative teams spread across the globe.
The pension plan will consider tweaking its asset allocation for fiscal year 2024 at its board meeting tomorrow and disclosed commitments totaling $450 million at today’s investment advisory committee meeting.
The plan will interview two to three hedge fund managers in the next two months.
The pension plan terminated an existing hedge fund manager and committed to a new infrastructure manager in September.
The fund approved recommendations to add new multi-strategy hedge fund managers as well as introduce long/short active management in the international equity portfolio last month.
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.