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The plan anticipates committing up to $450 million to the asset class next year.
The new hire will look to develop the firm’s North America business development strategy in the institutional investor channel.
The firm raised $9.7 billion in aggregate capital commitments across the two funds.
The plan’s private markets committee will recommend the commitment at a board meeting later this month.
The search follows the plan’s termination of an incumbent manager at yesterday’s board meeting.
The fund has already deployed over 50% of its commitments.
The pacing plan calls for between $130 million and $160 million in new private equity commitments next year.
The consultant believes adding diverse-owned firms is not the only way nonprofits can achieve their DEI-related investment goals, and their consultants should assist them to evaluate several different approaches.
The university has elected two new vice chairs for its board of trustees and named its first woman board chair.
The firm has acquired an investment advisory team based in Atlanta.