Real Estate
The plan will seek a real estate manager to handle $30 million to $60 million and recently hired a hedge fund-of-funds manager as part of new absolute return portfolio structure.
The plan added follow-on real estate and real assets commitments at today’s board meeting.
The university approved private credit, real estate and private equity buyout commitments with new managers in the second quarter.
The plan will interview two private equity managers and an infrastructure manager at its November board meeting.
The plan approved a $10 million real estate commitment this month after the board previously decided to revisit the investment.
They will be responsible for origination, negotiation, structuring and closing of deals.
Draft RFPs will be reviewed next month for scheduled publication in January.
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 institution has drafted a private equity co-investment policy framework alongside its general investment consultant that will be presented at a future meeting.
The foundation is looking to build out its private investment allocations to reach its asset allocation targets in the near future.