Alternatives
The $20 million commitment results from an ongoing search in the space.
The vehicle closed at its hard cap and was oversubscribed with investors, including current and former management team members, foundations, diversified financial institutions, university endowments and family investment offices.
The firm has appointed an operating partner to help identify and support new investments in wealth and asset management.
The fund will consider adding a new private equity manager within its trust fund portfolio following a presentation from the firm at its board meeting this week.
The institution approved a commitment from its endowment to a lower middle market buyout strategy with a new manager at the recommendation of its general investment consultant.
The commitments include two custom mandates.
The firm has completed an initial close of its fund targeting sustainably managed forestlands with more than $200 million in commitments.
The global asset manager has raised approximately $1 billion for an energy transition infrastructure fund.
The university was slated to approve a buyout private equity commitment to a new manager within its endowment at its meeting last week.
The plan also made $440 million in real assets and private equity commitments at today’s meeting.