Private Equity
The search is being conducted due to the upcoming contract expiration of incumbent StepStone Group.
The retirement system also approved three commitments totaling up to $90 million yesterday.
The retirement system added $300 million across infrastructure and private equity commitments last month.
The retirement association began a search over the summer after increasing its long duration credit target.
The strategy is the largest fund ever raised with a specific focus on emerging buyout managers.
The retirement system also committed more than $1.5 billion to private markets.
The state is searching for venture capital funds that are interested in managing its participation in the SSBCI program.
The university added new private equity and venture capital managers within its endowment in the second quarter on the heels of re-up commitments to existing strategies.
The name reflects the legacy of its co-founder, who also founded two firms that helped shape the private equity industry.
The plan made six commitments totaling more than $900 million.
