Private Equity
The university hired a new private equity buyout fund and made re-up commitments to private equity growth and natural resources funds within its endowment during the first quarter.
The university approved three financing agreements with startup companies recently launched from the institution’s ecosystem at its October board meeting.
The retirement system is conducting the search to “assess the feasibility” of establishing a private markets emerging manager program.
The retirement system also opted against action following an equity structure review last month.
The plans adopted the new asset allocation following an asset study by their general investment consultant.
Commitments included over $1.9 billion to OrbiMed Private Investments X and more than $1 billion to OrbiMed Asia Partners VI.
The institution will consider investments with startup companies recently launched from its ecosystem through its accelerator fund at its board meeting this month.
The pension system also discussed a potential private equity pacing plan that calls for $80 million to $90 million per year to reach its 11% target.
The retirement association expects to approve a recommendation next year.
The retirement association will also consider rehiring its general investment consultant this week.
