Credit/Private Debt
The foundation amended its asset allocation policy, removing its allocation to special purpose acquisition company assets, and added several commitments within its endowment during its second quarter investment committee meeting.
The commitments include maiden investments in private credit.
The pension plan will conduct two manager searches after approving a fiscal year 2024 real assets investment plan.
The search follows the addition of a maiden 3%, or $350 million, target to the asset class in March.
The university will consider adding long/short credit and venture capital commitments with new investment managers at its board meeting this week.
The plan committed $30 million to a follow-up fund at a meeting yesterday.
The plan disclosed private equity, private credit and real estate commitments at a board meeting today.
The commitment will help move the retirement system closer to its 30% non-core real estate target.
The plan disclosed commitments totaling $300 million at a meeting last month.
The plan also named finalists in its domestic large-cap value equity manager search.