Private Equity
The board also disclosed a private equity commitment at today’s investment committee meeting.
The firm’s seventh direct co-investment program surpassed its $4 billion target.
The plan concluded its global equity manager search with a replacement for one existing firm.
The pension plan also redeemed an alternatives manager at a board meeting today.
The firm recently closed the second fund in its private equity strategy with more than $1 billion in commitments from a Limited Partner base of new and existing institutional investors.
The university approved investing with a startup company recently launched from the institution’s ecosystem.
The plan also approved follow-on private equity fund-of-funds commitments last quarter.
The fund closed with $2 billion in commitments, bring firm assets under management to roughly $6.5 billion.
The plan also held executive director interviews last week.
The plan was mulling a 5% target to either private equity or private credit, ultimately approving the latter.
