Alternatives
The changes followed two separate asset/liability studies from general investment consultant
Verus.
The commitments include two first time managers for the plan.
The director has left the institution to join an alternatives firm as a managing director focused on investments across non-corporate debt and real assets.
Commonfund will rename its two core businesses effective Feb. 1 to enhance clarity while supporting continued growth.
The fund approved maiden infrastructure fund commitments in the fourth quarter as the strategies provide good yields with stable growth, strong protections against inflation and a low correlation with other asset classes.
The plan concluded its domestic small- to mid-cap equity manager search and made private markets commitments last week.
Plan added $90 million in total commitments across two funds with an existing manager last week.
The pacing plans will target a combined $625 million to the two asset classes.
The university invested $4 billion in the Blackstone Real Estate Income Trust and the firm will provide a $1 billion backstop if the fund does not achieve a minimum annual return of 11.25% for six years.
The university foundation added several strategies spanning private equity, domestic equity, commodities and high-yield and investment grade fixed-income within its endowment last year.