Private Equity
A foundation based in the Mid-Atlantic region is looking to add a manager to help oversee its private market portfolios.
The college is prioritizing making consistent private equity commitments over time so the asset class comprises roughly one-third of its endowment.
The pension plan recently made $1.8 billion in total commitments across its dynamic strategies, private equity and real assets portfolios.
The commitments were made for pacing purposes.
The plan also retained two emerging market fixed-income managers.
The pension system will hear recommendations to add infrastructure and drop commodities, among other changes, at this week’s board meeting.
The plan added a $60 million commitment to a new manager in May.
Private markets co-investments have seen a steady uptick as they provide a unique opportunity for institutional investors to become better acquainted with managers, especially in today’s slow fundraising environment where GPs have motive to expand their offerings.
The oversubscribed fund closed at $2.35 billion in commitments.
The plan’s board will hear presentations from four domestic core fixed-income finalists next week.