Private Equity
The alternatives manager has completed the first close of its latest strategy targeting venture fund-of-funds and direct investments in technology companies.
The plan recently committed approximately $2.2 billion total to nine funds.
The plan will revisit a proposed asset allocation that would incorporate a maiden private credit target at next month’s board meeting.
The search follows the departure of an investment associate that left at the beginning of the year to join a West Coast endowment.
Plan disclosed real estate and private equity commitments with existing manager relationships.
The plan added a European private equity commitment in the first quarter.
The plan’s incumbent consultants had their contracts renewed until early 2024.
The contract of the plan’s incumbent high-yield fixed-income manager will expire this year.
The foundation is looking to build out its private investments over the coming years after revising its target asset allocation and significantly increasing allocations to several alternative asset classes in fiscal year 2022.
The plan will seek to commit up $300 million across multiple private credit strategies as part of an RFP scheduled to be issued on Monday.