Venture Capital
The plan approved two commitments previously approved by its investment committee last month.
The retirement fund liquidated a $243 million international equity mandate and made commitments totaling $770 million in December.
The plan will seek full board approval for two private markets commitments next month.
The search is for due diligence purposes as the plan has worked with its incumbent for “decades.”
A report finds that 60% of private equity and venture capital industry professionals expect to see greater cash earnings this year, down from 65% last year.
Nonprofits still see opportunities in alternative asset classes, like smaller or specialized buyout strategies, venture funds or private debt strategies that benefit from macro trends like the higher interest rates, rapid development of artificial intelligence or transition to clean energy.
The university made private infrastructure, growth equity and venture capital commitments within its endowment during the third and fourth quarters.
The commitments include three new relationships for the plan.
A total of six new commitments and two terminations were reported this month.
The institution approved new hedge fund, private equity and venture capital commitments in the fourth quarter.