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Somerset had been in advanced talks to transfer its top performing funds to a new investment advisor.
The plan’s cio departed less than seven months after joining in the role.
Institutional investors are bullish on private market investments as the rapid development of artificial intelligence technologies signals future growth in the economy despite looming geopolitical risks, according to a recent survey.
The pension plan liquidated an approximately $237 million global equity mandate and made commitments totaling $1.4 billion in October.
The plan’s current manager is on watch for performance reasons.
Private equity and credit stand poised to continue dominating nonprofit mandates for the next year to two years, according to a new study of outsourced cio providers.
The state trust fund added two private equity buyout strategies in December as part of the buildout of its private equity and alternative investment portfolio.
The firm added a central regional director to work with nonprofit and institutional clients, providing them with investment advisory, asset allocation and portfolio construction services.
The university elected four alumni to join its board of trustees, including two investment professionals, at the start of this quarter.