Infrastructure
The plan will consider eliminating its global REITs allocation for liquidity purposes and disclosed a commitment to an existing infrastructure manager today.
The plan is seeking non-core real estate, farmland, timber and infrastructure strategies to fulfill an up to $400 million mandate.
The plan approved an infrastructure commitment with an existing manager and was informed of two credit commitments at yesterday’s board meeting.
The plan removed a manager structure constraint for its return-seeking fixed-income portfolio and approved a value-add real estate commitment with an existing manager this month.
The plan is set to receive pacing plans for private equity, real assets and credit this week.
The foundation is considering a maiden alternatives allocation within its portfolio and weighing the addition of hedge fund, infrastructure and private debt investments to fund the allocation.
The plan terminated an EAFE value equity manager that had been placed on watch in June for underperformance.
The plan will issue an RFP for non-discretionary and discretionary services in January.
The plan will first issue the fixed-income and private equity RFPs in the next two months.
The plan’s consultant said there are additional strategies it might consider for diversification purposes.