Asset Study/Review
The pension plan considered establishing a 5% target to either private equity or private credit last month.
The university is discontinuing its voluntary divestment from all publicly traded oil and gas companies as it has set a goal of achieving a net-zero endowment by 2046.
The retirement plan also made a private equity commitment for pacing purposes last month.
The plan approved a new domestic equity structure that shifts the portfolio to 100% passive.
The retirement plan also made a private equity commitment in the first quarter.
The retirement system will also see its deputy executive director retire next week.
The university approved a new investment policy statement for its endowment in the first quarter that includes a list of prohibited investments that do not align with its long-term risk, liquidity and governance framework.
The fund is looking to put dry powder to work in the debt asset class to capitalize on recent volatility.
The university has placed a global equity manager on ‘hold’ due to portfolio manager departures and another global equity manager on ‘watch’ due to performance concerns.
The retirement system’s sole REIT manager handles $17 million.
