Real Estate
Firm closed its inaugural Barings Innovation and Growth Real Estate Fund and associated vehicles with $680 million.
The fund added a global real estate strategy and passive international equity strategy with a New England-based firm to its roster of underlying funds to add more yield and reduce overall fees.
The plan recently committed approximately $2.2 billion total to nine funds.
Plan disclosed real estate and private equity commitments with existing manager relationships.
The plan’s incumbent consultants had their contracts renewed until early 2024.
The plan will seek to commit up $300 million across multiple private credit strategies as part of an RFP scheduled to be issued on Monday.
The foundation is seeking an investment manager for private markets to help source and evaluate investment strategies across buyout, growth, venture capital, special situations, real estate and infrastructure.
The pacing plan calls for a total of $58 million to private debt and private equity over the next two years.
The plan approved commitments of $30 million each to real estate and private equity funds at today’s meeting.
The plan approved a strategic real estate plan that calls for dropping its core portfolio to 5 managers from 11 over time.