Alternatives
The infrastructure commitment was under consideration at a meeting this week to complement an existing manager as the health system is also underweight its target to the asset class.
The role oversees the firm’s engagement with institutional and private investors to support its growing platform and long-term investment strategy.
The alternative credit team additions reinforce the firm’s commitment to providing institutional and high-net-worth investors with an increasing number of differentiated alternative investment offerings.
The fund’s general investment consultant is recommending a private credit commitment to an evergreen strategy targeting an initial fundraise of $1 billion to $2 billion.
The plan voted to hire new general investment and alternatives consultants at last week’s board meeting.
The retirement system is seeking to establish a pool of “possibly two to three” consulting firms to advise on co-investments.
The CIO said the comments to an audience of financial advisors at a conference held in Miami this week.
The university added three private real asset commitments to its approximately $2.3 billion endowment in December and January, including one with a new manager.
The investment manager has filled the newly created position of global head of family capital with the former managing director of a prominent asset manager.
After showing consistent returns over the last two decades, private infrastructure funds offer attractive investment opportunities for nonprofits, due to growing demand, diversification of assets and mandated revenue structures of infrastructure projects.