Daily Feed
The university is searching for an outsourced cio provider for its endowment and operating fund portfolios as it is in the process of finalizing a new investment policy statement.
The university will review and discuss the investment policy and asset allocation for its endowment later this year, including increasing its private market allocations.
The plans are seeking an investment consultant to monitor investments, conduct annual due diligence meetings with investment managers, provide quarterly reports and annual reviews.
The agency issued an RFP in March due to the incumbent’s contract expiration.
The plan selected two international small-cap value equity managers to conclude its search for a firm in the fourth quarter due to underperformance from the incumbent.
The firm’s second private equity fund closed nearly $300 million above its fundraising target.
The plan is conducting the search as its investment officer left the plan last month after nearly three years of service.
The plan’s outsourced cio hired global large-cap growth equity and Russell 2000 Index fund managers in the first quarter.
The managing directors will both report and work closely with Chris Freeze and David Burnside, co-heads of business development at Nuveen Private Capital.
The new portfolio manager joined the plan this month from the California State Teachers’ Retirement System.