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The fund expects to receive recommendation from staff and its general investment consultant to hire extended equity 130/30 and multi-strategy hedge fund managers after approving a new asset allocation at its July board meeting.
The foundation expects to conduct a search for an investment advisor for its endowment later this year or early next year as its current advisor has struggled to recommend women- and minority-owned or led investment managers.
The college increased its endowment toward private equity and venture capital and increased its long-term ranges to the asset class for a second consecutive year.
Fund VI closes with more than $1 billion in new capital commitments.
Firm has closed SKCP Catalyst Fund II with total committed capital of $800 million.
The plan concluded a domestic large-cap growth equity manager search in the second quarter.
The new office will initially support KKR’s real estate, private equity, private wealth and institutional client relationship teams.
The trust split its domestic large-cap value equity allocation with an additional manager hire last quarter.
The fund represents the firm’s largest to date after it exceeded a $5 billion target.
The plan’s new private markets allocation will consist of one-third private equity, one-third private debt and one-third real estate/real assets.