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The terminations include three underperforming managers.
Crescent Cove Fund IV was oversubscribed and with support from a diverse base of institutional investors.
Officials from Yale University’s endowment, which manages over 65 trillion won ($44 billion) in assets, are set to visit Korea to discuss investments with domestic asset managers. As expectations for a re-rating of Korean equities grow on the back of the government’s corporate value-up initiative and expanding shareholder returns, even global university endowments are now scouting investment opportunities in the country.
The fund will consider committing $50 million to an existing private equity manager within its portfolio as staff recommended adding a strategy with General Partner stakes.
The foundation hired an executive senior investment advisor to lead its endowment management program.
Four outsourced cio providers were interviewed for the mandate.
The plan also added a pair of commitments to a new private equity manager relationship.
The city will interview a pair of finalists to provide investment management and advisory services.
The plan terminated two managers as part of a non-U.S. equity structure study.