Venture Capital
A university foundation based in a Western state has approved several commitments, including allocations to opportunistic credit and venture capital strategies.
The university disclosed follow-on real estate and venture capital commitments made with existing managers within its endowment in the first quarter.
The plan also hired an international small-cap equity manager after finalist interviews.
The fund is looking to add buyout, growth, venture capital and GP-led secondaries strategies to its endowment.
The pension plan recently committed up to $75 million to an existing hedge fund manager relationship and tweaked its private equity sub-asset class targets.
The pension plan will aim to commit $3.1 billion total to private equity and opportunistic/diversified strategies in fiscal year 2025.
The agency has selected five venture capital fund managers to launch an $100 million venture capital fund targeting startups in the state.
The plan made five commitments with existing manager relationships.
The firm has raised $1.6 billion in total commitments across five investment vehicles focused on venture funds and technology companies behind support from new and existing investors, including foundations, endowments, pension funds, family offices and high-net-worth individuals.
The pension plan liquidated its approximately $1.9 billion global equity mandate and made commitments totaling $1.6 billion in March.