Hedge Funds
The pension plan selected seven absolute return managers for possible inclusion within its investment lineup and tweaked its asset allocation policy last week.
The pension plan received staff recommendations to fully redeem a multi-strategy hedge fund mandate and commit to a global infrastructure strategy today.
The plan is searching for managers to handle more than $850 million.
The pension plan recently committed $275 million total to two funds and terminated existing convertibles and real estate debt strategies.
The system expects to receive a recommendation from its general investment consultant to reinvest funds at a future board meeting after approving the termination of a hedge fund manager last week.
The retirement system made $275 million in new alternatives commitments in recent months.
The plan will conduct a search for multi-asset class credit investment strategies.
The plan is looking to commit $100 million to a newly established credit hedge fund.
The fund expects to receive recommendation from staff and its general investment consultant to hire extended equity 130/30 and multi-strategy hedge fund managers after approving a new asset allocation at its July board meeting.
The university approved five new commitments totaling $81 million to private equity, venture capital, private credit and hedge fund strategies within its endowment.