Private Equity
The retirement plan approved two private equity commitments totaling $13.25 million in the third quarter.
The plan will look to commit up to $400 million to a private equity fund at its board meeting later this month.
The firm made a strategic minority investment in private market secondaries manager Coller Capital as it looks to expand into private markets.
The commitment to an existing investment manager was made as the fund is underweight its strategic target to the asset class.
The pension plan disclosed commitments totaling roughly $778 million in the third quarter.
The search will be conducted to replace a recently terminated hedge fund manager.
The retirement board made $250 million in total commitments over the last two quarters.
The newest fund surpassed the firm’s $4.75 billion target in less than five months.
The retirement fund made four private equity commitments totaling $10 million in the second quarter.
The university is considering selling a portion of its private equity portfolio as it looks to reposition its endowment under its new investment head, who began in the role last year.