Private Equity
The university added new private equity and venture capital managers within its endowment earlier this year on the heels of new commitments to existing managers.
The plan also approved $25 billion in passive investments with a firm as well as private equity commitments at today’s meeting.
The retirement system also disclosed commitments totaling roughly $2.5 billion at the meeting.
The plan also made slight adjustments to its asset allocation at its meeting this week.
The plan is seeking private equity and private credit strategies for a projected mandate of $20 million to $25 million.
The state pension fund approved the hire at today’s board meeting, expanding its existing agreement with its alternatives investment consultant.
The governor vetoed legislation that would have mandated the state’s public universities invest a portion of their endowments into innovation funds, finding it did not adequately recognize the independent fiduciary responsibilities of the institutions.
The board also recently made a private equity commitment.
The global alternative assets manager has closed PA Secondary Fund V with approximately $3 billion in total committed capital.
Estancia Capital Partners Fund III and affiliated investment vehicles secured $367 million in commitments.
