Real Assets
The search follows the departure of an investment associate that left at the beginning of the year to join a West Coast endowment.
The contract of the plan’s incumbent high-yield fixed-income manager will expire this year.
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.
Plan continues working toward executing a transition of assets away from the state fund.
The commitments were recommended in closed session of yesterday’s board meeting.
Plan adds deputy cio for operations from its legal team.
The maiden asset class was added as part of a new asset allocation approved last year.
The university is considering creating a related but separate entrepreneurial team to invest $2 billion in real estate on or near its campuses, while also disclosing its shifting approach to private equity investing.
The plan began a core real estate search for diversification purposes.
The fund is reviewing its relationship with a firm that handles private energy, international equity and emerging markets mandates after the state comptroller directed entities to divest their existing holdings from financial companies that boycott energy companies.