Private Equity
The pension fund also approved a private equity commitment and retained its general investment consultant following a search.
The board hired an intermediate manager to replace a short-term bond mandate.
The retirement system is seeking a replacement for a recently terminated domestic equity manager.
The university revised the asset allocation for its long-term investment pool, increasing its allocation to domestic and private equity, as part of a new investment policy statement approved at its September board meeting.
The retirement system made infrastructure and private equity commitments totaling $295 million last week.
The commitments include two new manager relationships for the council.
The plan will look to conclude its private markets consultant search next month.
The pension fund hired a pair of international growth equity managers at this week’s board meeting.
The retirement system made three private equity commitments totaling $100 million in August.
The state pension plan also committed up to $400 million across two venture capital funds at its meeting today.