Private Equity
The plan committed $120 million total to two existing manager relationships this week.
The plan’s incumbent manager was recently placed on watch for underperformance.
The plan terminated an approximately $182 million long-only alpha mandate and made commitments to three existing and one new manager relationship in January.
The institution hired two domestic small-cap equity managers and added two venture capital commitments with existing managers at a meeting late last week.
New allocation is contingent on full board approval after receiving approval from the investment committee this week.
Plan expects to add private equity commitments totaling $60 million following investment committee approval earlier this week.
The plan conducted a similar search in 2021 that did result in any hires.
The commitments include two new relationships for the council.
The search is open to buyout, growth equity and venture capital strategies.
The plan is considering follow-on commitments to eight existing managers.
