Private Equity
The retirement system approved private markets commitments at its board meeting today.
The pension plan made $851.7 million in total private equity/current return commitments and $288 million in total real estate commitments in the fourth quarter.
The plan will also consider a $30 million re-up commitment with a real estate manager.
The corporation is searching for firms to establish a state venture capital fund and to act as the manager of the fund, for which the state will be a limited partner.
The fund will look to commit more than $300 million across private equity and private credit this year as part of the pacing plan to reach its target allocations by the end of the decade.
The retirement system will also see its executive director resign on Friday after less than a year in the role.
The fund-of-funds made a commitment to an investment vehicle targeting start-ups in Southern Wisconsin, where Microsoft plans to make a $3.3 billion investment in cloud computing and artificial intelligence infrastructure.
The university added a new global public equity investment and a private equity commitment with existing managers within its endowment in the fourth quarter.
The plan expects to add eight additional non-U.S. equity managers over the next two months.
The search is due to the impending contract expiration of its incumbent.