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A new report shows private equity deals require sharper value creation, a clearer, data-backed edge and faster earnings before interest, taxes, depreciation and amortization growth.
The firm closed its first real estate fund with more than $350 million in commitments from a diverse set of institutional investors that includes foundations, pension funds, registered investment advisors, family offices, banks and their clients.
The plan also disclosed $250 million in commitments at today’s meeting.
The plan approved an up to $20 million commitment to a new fund with an existing manager relationship.
The fund approved a private equity fund-of-one commitment with a firm that was a semifinalist in its original search to build out its private equity allocation with a fund-of-one commitment in 2020.
The university added an international equity strategy with an existing manager and a hedge fund credit strategy with a new manager in the first quarter.
The plan will add new firms to its hedge fund portfolio over the next 18 months as it looks to adopt the second version of its strategic partnership program.
The plan hired a new general investment consultant and consolidated its private markets consulting services with another firm following a similar search in 2021.
The retirement system will consider six commitments totaling $265 million at Thursday’s investment committee meeting.
The plan added two private markets commitments last month.