Private Equity
The university approved fully liquidating a hedge fund manager and committing to a private equity strategy within its endowment in the first quarter.
Newly enhanced requirements affect large hedge fund and private equity advisors.
The manager will handle a new 3% long Treasury target allocation.
The plan added two core-plus fixed-income managers to the portfolio and made 11 alternatives commitments in the first quarter.
The plan made follow-on commitments totaling $925 million.
The plan hired a firm to handle its maiden commodities allocation and committed to an existing private equity manager yesterday.
The system was expected to review three private equity secondary fund-of-funds managers for its portfolio this week after beginning consideration of the strategies late last year.
The plan will add six managers to the portfolio over the next six to nine months in a restructuring that will also see staggered terminations.
The investment consultant will advise on a new venture capital program.
The commitments include two new manager relationships.