Searches And Hires
The university rehired its incumbent operating funds manager after issuing an RFP at the beginning of the year.
The strategic plan calls for committing $300 million to the asset class.
The plan approved an RFP seeking value-add real estate managers to handle $7 million.
Decision follows a partial acquisition of the incumbent firm that has left its equity team with $800 million in assets under management.
The plan added a core strategy to diversify its existing domestic large-cap equity portfolio consisting of value and growth managers.
The commitment was made as part of the foundation’s efforts to align 100% of its investments with its mission.
The foundation is looking to add impact or mission-aligned investments to its portfolio as part of its pledge to make it completely values-aligned over the next five years.
The university has issued an RFP seeking firms to invest its cash reserves in low-risk liquid investment instruments after conducting a similar search in 2016.
The university also revised the scope of services in the search to include managing funds after it issues
bonded debt.
The plan expects to select a general investment consultant in November.