Venture Capital
The retirement fund added $249 million in new commitment at last week’s board meeting.
The retirement system made venture capital commitments totaling $45 million last month.
The retirement fund also hired a new domestic small-cap value equity manager this week.
The commitments were made this year under delegated authority.
The retirement fund is targeting private equity finalist interviews at its February and March board meetings.
Many endowments, foundations and their allocators point to relatively small or medium-size private equity buyout and early-stage venture capital for returns that outpace the public markets, while private real estate, infrastructure, hedge funds and private debt, especially asset-based lending look like strong portfolio diversifiers in this year’s mercurial environment.
The plan added $560 million in recent commitments across private equity, infrastructure and real estate.
The firm closed its acquisition of 100% of the equity of a platform that invests across all stages of the venture capital lifecycle.
The retirement fund also disclosed commitments totaling $1.1 billion in September.
The plan expects to approve three recommended finalists for future interviews at this week’s board meeting.