Private Equity
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.
The venture capital space is taking steps to ensure more progress is being made toward backing women-owned and led funds and Women’s History Month is highlighting some of the efforts being made to increase the representation and role of women in the space – but there is still a long way to go.
The foundation is seeking an investment manager for private markets to help source and evaluate investment strategies across buyout, growth, venture capital, special situations, real estate and infrastructure.
The pacing plan calls for a total of $58 million to private debt and private equity over the next two years.
The firm closed its sixth private equity fund, which will target technology, business services, medical and industrial sectors, above its target.
The plan will look to hire maiden ACWI-ex U.S. large-cap core and small-cap equity managers.
The plan approved commitments of $30 million each to real estate and private equity funds at today’s meeting.
Plan continues working toward executing a transition of assets away from the state fund.
