Private Equity
The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.
The plan will have further discussions on adding a 3% initial target to private equity at its November board meeting.
HarbourVest Fund XII closed with over $3 billion in commitments.
He will be responsible for evaluating, analyzing and monitoring the firm’s investments.
The institution has drafted a private equity co-investment policy framework alongside its general investment consultant that will be presented at a future meeting.
The university disclosed follow-on commitments with five venture capital managers made in the second quarter.
The foundation is looking to build out its private investment allocations to reach its asset allocation targets in the near future.
The plan committed roughly $300 million total to four buyout strategies last week.
The strategy is more than twice the size of its predecessor fund and will invest in underserved lower middle market businesses with a focus on healthcare, software and services industries.