Alternatives
The plan also made two private credit commitments in September.
Secondary fund investments are increasingly driving interest among institutional investors as the industry finds it’s a good place to gain comfort with private markets and efficiently deploy capital amid deal activity and fundraising surges.
The plan will look to commit up to $400 million to a private equity fund at its board meeting later this month.
The firm made a strategic minority investment in private market secondaries manager Coller Capital as it looks to expand into private markets.
Artificial intelligence investments and digital assets are driving outperformance for large university endowments, which reported fiscal year 2025 returns around 11% or 12% on average.
The commitment to an existing investment manager was made as the fund is underweight its strategic target to the asset class.
The firm recently held the initial close of its flagship fund as it looks to complete its $500 million fundraise for the strategy in 2026.
The plan disclosed new commitments totaling $525 million at its board meeting last week.
The search will be conducted to replace a recently terminated hedge fund manager.
The retirement board made $250 million in total commitments over the last two quarters.