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The plan will add six managers to the portfolio over the next six to nine months in a restructuring that will also see staggered terminations.
The investment consultant will advise on a new venture capital program.
The commitments include two new manager relationships.
The hire concludes the plan’s search to replace Allspring Global Investments, which was terminated last year due to underperformance.
It’s TPG’s second fund focused on providing flexible capital solutions to the technology industry.
The plan approved a pair of commitments at today’s board meeting.
The plan committed $134.4 million total to three investment managers last week.
The plan made private markets commitments totaling $15.8 million and appointed an executive director/cio last month.
The foundation is searching for an investment manager to invest its portfolio and develop strategies that align with liquidity, risk and income criteria.
