Private Equity
The board will hire a new private equity manager in October.
The retirement fund authorized commitments totaling $305 million, including one new relationship.
A university based in a Southern state will consider recommendations from its consultant to invest in private equity and venture strategies.
The fund is searching for a director of hedge fund investments as well as an associate for private equity funds to assist in the oversight and management of its portfolio.
The pension system increased private equity and infrastructure and real assets following changes approved this week.
The plan made two commitments for pacing purposes at today’s board meeting.
The pension fund approved up to $500 million in private markets commitments at a meeting today.
The organization is seeking an advisor to assist with supporting its portfolio of innovations with capital and financing strategy as well as business models and operations for growth.
The retirement board was also expected to hire a new manager in its domestic small- to mid-cap growth equity manager search.
Evergreen funds have seen tremendous growth and interest in recent years, which the industry anticipates will continue as data entered in the second quarter of the year showed an uptick in commitments to these perpetual investment vehicles that provide institutions with positive attributes.