Alternatives
The university is an anchor investor in a Black-owned venture capital firm’s first strategy that closed last month with more than $60 million in commitments.
The firm has entered into a “leaders strategy” partnership to form a platform that aims to acquire companies and assets in the technology-enabled pharmaceutical solutions industry.
The system approved the commitment with an existing manager to continue to diversify the portfolio and realign to its asset allocation targets.
The foundation is considering a maiden alternatives allocation within its portfolio and weighing the addition of hedge fund, infrastructure and private debt investments to fund the allocation.
The firm closed its third fund above its $550 million initial target with the support of existing investors and a substantial personal commitment from its team.
The firm hired a partner to co-lead its 20-person private equity and venture capital team from CalPERS.
The plan added a $100 million direct lending commitment to an existing manager relationship.
Pacing plan is set for private equity, real assets, real estate and direct lending for 2023.
The plan terminated an EAFE value equity manager that had been placed on watch in June for underperformance.
The plan terminated an approximately $799 million emerging markets equity mandate and made commitments with four existing managers and one new manager in September.