Venture Capital
The plan added two core-plus fixed-income managers to the portfolio and made 11 alternatives commitments in the first quarter.
The investment consultant will advise on a new venture capital program.
The funds will invest in incubation, seed, Series A and Series B stage digital-health startups.
The plan will not commit any additional capital to the program due to potential issues, including conflicts of interest and lack of transparency.
The plan added $120 million across two commitments with existing manager relationships in recent weeks.
The alternatives manager has completed the first close of its latest strategy targeting venture fund-of-funds and direct investments in technology companies.
The search follows the departure of an investment associate that left at the beginning of the year to join a West Coast endowment.
The foundation is looking to build out its private investments over the coming years after revising its target asset allocation and significantly increasing allocations to several alternative asset classes in fiscal year 2022.
The venture capital space is taking steps to ensure more progress is being made toward backing women-owned and led funds and Women’s History Month is highlighting some of the efforts being made to increase the representation and role of women in the space – but there is still a long way to go.
The foundation is seeking an investment manager for private markets to help source and evaluate investment strategies across buyout, growth, venture capital, special situations, real estate and infrastructure.
