Private Equity
The plan also made two follow-on private equity commitments.
The institution added private equity and event-driven hedge fund strategies within its endowment in the first and second quarters, while also fully redeeming from a hedge fund manager.
The plan finalized an additional $15 million commitment earlier this week.
The foundation added impact private equity and emerging markets equity strategies with new managers within its endowment in the first half of 2023.
The pension plan hired a secondary fund-of-funds manager and a primary fund-of-one manager to handle its maiden target allocation to private equity at Wednesday’s board meeting.
The pension plan received staff recommendations to fully redeem a multi-strategy hedge fund mandate and commit to a global infrastructure strategy today.
The plan expects to hear presentations from six private equity firms next month as part of a search initiated in April.
The retirement plan committed to three firms following finalist interviews held yesterday.
The plan also approved a private equity commitment as it continued talks in its ongoing asset/liability study at a meeting today.
The plan hired several managers at its board meeting today, totaling more than $1 billion.