Real Assets
The searches will help fill out an asset allocation approved in 2021 that included new targets to the asset classes.
The plan hired two firms to fill a new allocation to the asset class.
The plan committed up to $600 million to a new real assets manager this week and was informed of three co-investments.
The plan recently committed approximately $2.2 billion total to nine funds.
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.
