Credit/Private Debt
The university will consider adding a passive domestic large-cap value strategy to provide a more balanced approach to its equity portfolio and a private debt manager as it looks to build out its allocation to the asset class.
The plan is in the process of filling its 5% private credit target and conducting a real estate portfolio structure review.
The increased commitment will provide the plan with “an equal-weighted exposure” between its U.S. and European private credit managers and the termination will reduce volatility.
The new consultant will provide private credit and credit consulting services.
The commitment is part of the plan’s annual pacing schedule.
The plan committed $20 million to a new opportunistic credit manager.
The plan committed up to $100 million across three strategies to fill a new target approved last year.
The plan disclosed 14 recent commitments and an equity manager termination.
The plan is likely to introduce a 5% allocation to the new strategy.
The plan received an education into private credit at its board meeting yesterday and will have further discussions in the fall.