Private Equity
The university revised its long-term targets for drivers of return of its endowment, increasing its target to equities at the expense of absolute return, credit and real estate.
The college is fine-tuning its hedge fund and private equity portfolios in the near term as it makes progress on its long-term goal to divest from fossil fuel investments.
The university authorized its board chair to execute or decline a private equity commitment within its endowment in the third quarter.
The pension added a new investment and co-investment in real estate and two additional commitments to existing secondaries and venture capital managers in October.
The retirement system will consider hiring two active domestic fixed-income managers and approving a structure for its new private debt portfolio this week.
The pension fund is seeking one or more private equity secondaries products diversified by underlying fund strategy and geographic focus.
The selected firm will manage a private equity portfolio totaling $400 million over five years.
The plan added a follow-on private equity commitment at a board meeting last week.
The global asset manager has closed its third vehicle investing in high-growth technology companies across North America, Europe and Israel with $3 billion in committed capital from new and existing investors.
The commitments include follow-on and first-time fund commitments for the plan.