Private Equity
The university added three private equity managers and redeemed from two hedge fund managers in the first half of 2023 in accordance with a new investment policy approved in late 2022.
The changes include increases to the plan’s core real estate and infrastructure targets and subsequent searches.
The RFP will seek one or more short-duration high-yield fixed-income managers.
The plan is scheduled to approve a new target asset allocation at its meeting on Tuesday.
The pension plan committed up to $40 million to an existing manager relationship yesterday.
The foundation recently made an undisclosed mission-related commitment to a venture strategy focused on biomedical tech start-ups.
The pension plan’s investment committee approved a $75 million commitment to a middle market buyout strategy last week.
The new fiscal year 2024 asset allocation policy will increase the fixed-income targets for four of the plan’s systems.
The university disclosed follow-on venture capital and private equity commitments made in the first and second quarters of 2023 within its long-term portfolio.
The system will introduce a target to asset allocation leverage as part of a new long-term asset allocation policy for its defined benefit plans and hired a record keeper on behalf of its eight defined contribution plans yesterday.