Private Equity
The plan initiated a search for a private equity emerging manager to fill a commitment capped at $10 million and completed a core real estate search this week.
Plan will search for private equity managers to fill a new 5% target to the asset class at today’s board meeting.
They will help source new transactions, perform due diligence and support portfolio company management teams.
The plan committed $50 million to a new venture capital manager last week.
The new commitment follows one the plan made to a predecessor fund in 2019.
He will be responsible for helping lead capital markets activities across all aspects of the investment and portfolio management processes.
The commitments to the two managers totaled $200 million.
Plan approved a $2 million secondaries commitment at a meeting this week.
The fund focuses on buyouts that demonstrate favorable deal dynamics, visibility on value creation and downside protection.
Plan will a new 5% target to private equity after reviewing a search report last quarter.