Searches And Hires
The plan will halve its hedge fund target as it bolsters its U.S. fixed-income portfolio.
The plan will target a proposed allocation of $12 million to $18 million for pacing purposes.
The plan is seeking proposals from private debt managers offering direct lending strategies.
The foundation added distressed credit, mezzanine debt and hedge fund-of-funds strategies to its portfolios last year.
The system approved private equity commitments with new and existing managers within its endowment and the addition of a short-duration fixed-income manager within its liquidity pool at its investment committee meeting this month.
The funds have completed the evaluation process and selected a finalist in its search for firms provide financial advisory, investment consulting and risk transfer advisory services.
The plan will issue the RFP due to the contract expiration of the incumbent.
The plan selected the firm to handle roughly $9 million following finalist presentations at today’s board meeting.
The plan received an international equity structure review at today’s meeting that calls for a public RFP process.
The plan terminated its emerging markets equity allocation amid a “challenging environment” for the asset class.