Alternatives
The organization pivoted its asset allocation toward domestic large-cap equities as part of revisions and also added a real assets strategy.
The pension fund also concluded an emerging market debt manager search with a hire at today’s board meeting.
The retirement fund also disclosed approximately $1.6 billion in alternatives commitments made in July.
The plan disclosed new private equity, credit and real estate commitments at a board meeting today.
The institution will look to increase its commitments to private real assets over the next two years after adding a private real assets strategy within its endowment at its investment committee meeting last week.
The endowment will call a special meeting to select a firm in its U.S. direct lending manager search after eliminating one firm from a pool of candidates at its board meeting last month.
The firm has added investment vehicles from a leading global alternatives investment manager to its alternative investments access platform, which provides RIAs, broker-dealers and their clients access to private markets investments.
A new study shows roughly a quarter of Ivy League or elite endowments’ private equity allocations are unfunded, meaning the institutions may need to rely on their liquid holdings within public stocks and bonds.
The plan also made two private markets commitments today.
The fund approved a maiden commitment to a private credit secondaries strategy during its August board meeting to take advantage of discounts in the credit secondaries market.