Venture Capital
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.
A New York venture fund has raised more than $1 billion for its fund focused on cybersecurity companies.
The hires will conclude an RFP process that began in January.
The searches result from a new strategic asset allocation.
The pension plan received a recommendation from staff to amend its private equity sub-asset class targets last week.
The university approved recommendations to commit to climate solutions and venture capital strategies within its endowment at its March board meeting.
The university will consider commitments to climate solutions and venture capital strategies within its long-term portfolio at its board meeting this month.