Venture Capital
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.
The searches are for buyout, growth equity and venture capital strategies.
The plan may issue an RFP for minority-, women- and disabled-owned private equity managers as part of a 2024 pacing study approved yesterday.
The university and the investmen¬t arm of a European foundation have both committed to a venture fund focused on climate-related technologies that recently closed.
The foundation is looking to add diverse-owned managers, of which currently has four, to its portfolio along with regionally focused investments.
The venture fund focuses on later-stage growth investments in top performing companies across technology, healthcare and climate tech.
Institutions should not time the private markets or sit out tough years in venture capital as they will miss out on opportunities for attractive, long-term returns, according to a recent whitepaper, which finds that institutions benefit from well-constructed early-stage venture capital programs that have differentiated access, strong sourcing and due diligence processes to navigate a complex market with a challenging exit environment.
The retirement system made up to $250 million in private equity commitments among new and existing relationships.