Alternatives
The university revised its asset allocation and added international equity and private equity managers in the fourth quarter as recommended by its general investment consultant.
The firm recently closed its oversubscribed fourth fund with $999.9 million in total commitments, reaching its hard cap within four months of launch.
The retirement system interviewed two finalists last month.
The pension plan recently made $1.5 billion in total commitments and terminated two existing managers.
The retirement system approved private markets commitments at its board meeting today.
The retirement system is encouraging firms to respond to one or more services that include general consulting, private credit and hedge fund consulting and private equity and real estate consulting.
The plan will also consider a $30 million re-up commitment with a real estate manager.
The corporation is searching for firms to establish a state venture capital fund and to act as the manager of the fund, for which the state will be a limited partner.
The fund will look to commit more than $300 million across private equity and private credit this year as part of the pacing plan to reach its target allocations by the end of the decade.