Private Equity
The fund will hold a first reading of proposed changes to its investment policy statement and strategic asset allocation, including increased allocations to fixed-income and hedge funds, at its June 29 board meeting.
The plan committed to new funds by exiting managers at a meeting last week.
The university added three private equity managers and redeemed from two hedge fund managers in the first half of 2023 in accordance with a new investment policy approved in late 2022.
The changes include increases to the plan’s core real estate and infrastructure targets and subsequent searches.
The RFP will seek one or more short-duration high-yield fixed-income managers.
The plan is scheduled to approve a new target asset allocation at its meeting on Tuesday.
The pension plan committed up to $40 million to an existing manager relationship yesterday.
The foundation recently made an undisclosed mission-related commitment to a venture strategy focused on biomedical tech start-ups.
The pension plan’s investment committee approved a $75 million commitment to a middle market buyout strategy last week.
The new fiscal year 2024 asset allocation policy will increase the fixed-income targets for four of the plan’s systems.