Private Equity
The pension plan approved asset allocation changes within its domestic equity, real estate and private markets portfolios yesterday.
The university will consider approving up to five financing agreements with startup companies recently launched from the institution’s ecosystem through its accelerator fund.
The commitments fulfill the plan’s private markets pacing schedule this year.
The plan is seeking a fund-of-one structure to manage an initial 3% of its long-term 7% target to the asset class.
The senior director of private equity joined the firm last month from a pension fund.
The three private markets commitments totaled $65 million.
The close of the more than $360 million fund brings total firm assets under management to $1.7 billion.
The board recently made private equity commitments totaling $60 million.
The fundraise represents a 35% increase over Fund VIII and brings Veritas’s AUM to more than $54 billion.
The oversubscribed fund is the largest in the firm’s history.