Real Assets
Long-term real assets strategies like agriculture/farmland and timberland are beginning to garner renewed interest from institutional investors as inflation continues to impact the economy.
The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.
The plan disclosed two recent commitments totaling $900 million and named a replacement for CFO Barry Faison, who will officially retire on Dec. 31.
The foundation is looking to build out its private investment allocations to reach its asset allocation targets in the near future.
The plan committed $25 million to a new non-core real estate manager and approved a fiscal 2023 private markets pacing plan this month.
The plan recently made commitments with nine existing managers and one new manager.
The plan hired two new managers and disclosed five commitments at yesterday’s board meeting.
The plan hired two firms that will target emerging and diverse private equity, real estate and private credit managers.
The plan will interview two firms next month to handle nearly $200 million.
The plan disclosed three private equity commitments and one real assets commitment.