Private Equity
The plan will look to hire five firms after launching a search in January.
The plan will commit a total of $1.2 billion to the asset classes next year.
The plan reduced its international small-cap equity portfolio to two managers from three at last week’s board meeting.
The plan is slated to select a shortlist of managers at its investment committee meeting next week.
The university moved its endowment toward private equity, U.S. equity, global equity and hedge funds, as part of a new investment policy statement approved at its November meeting.
The foundation recently entered the secondaries market by purchasing private equity interests and other illiquid assets from a prominent pension that is considering folding.
The plan placed an emerging markets equity manager on watch for performance reasons.
The plan’s options could range from minor tweaks to the addition of private equity and emerging markets equity allocations.
The plan also approved conducting a search for a non-discretionary private markets consultant.
The plan also disclosed several alternatives commitments approved at a board meeting today.