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The oversubscribed fund brings the firm’s total capital under management to approximately $1 billion.
The strategic, minority investment was made through Blackstone’s GP stakes business.
The city issued an RFP last year seeking an advisor for its investment portfolio.
The plan made two private debt commitments last quarter totaling $50 million.
The retirement fund has posted an RFP for infrastructure managers to handle a $50 million to $80 million allocation.
The deal, which is expected to be completed by the end of March, will add $292 billion in assets under advisement and about 40 employees to the firm’s institutional practice.
Investors and allocators approached 2024 with an optimistic outlook, anticipating that inflation had peaked and would continue to reverse course, and they were rewarded as the Federal Reserve cut rates and equity and bond returns ended up firmly in the green. The year ahead, however, leaves investors with questions on how to navigate a market where valuations appear full and few assets appear cheap.
The investment division last conducted an RFP for the services in 2018.
The institution is seeking a managing director to spearhead investments in oncology-focused startups and source, evaluate and negotiate early-stage investment opportunities.
The university has rejected student requests to join the boycott, divest and sanctions movement and divest its endowment from companies that do business in or are located in Israel.