Credit/Private Debt
The foundation is looking to build out its private investments over the coming years after revising its target asset allocation and significantly increasing allocations to several alternative asset classes in fiscal year 2022.
The plan will seek to commit up $300 million across multiple private credit strategies as part of an RFP scheduled to be issued on Monday.
The plan rehired its incumbent after interviewing four total firms today.
The foundation is seeking an investment manager for private markets to help source and evaluate investment strategies across buyout, growth, venture capital, special situations, real estate and infrastructure.
The pacing plan calls for a total of $58 million to private debt and private equity over the next two years.
The plan will look to hire maiden ACWI-ex U.S. large-cap core and small-cap equity managers.
Plan continues working toward executing a transition of assets away from the state fund.
The changes will harmonize the investment grade fixed-income portfolios between the board’s three investment plans.
The plan’s investment committee hired an emerging markets core equity manager and approved two credit commitments last week.
The university disclosed follow-on commitments to existing credit, venture capital and private equity manager relationships made between September 2022 and January.