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The university is planning to conduct a strategic asset allocation study later this year after it terminated a global bond mandate and reallocated the funds to short-term bond and growth equity funds this month.
Institution’s newly approved endowment asset allocation increases its target to private equity at the expense of hedge funds.
The foundation hired a new finance head to oversee investment management, finances and accounting after its v.p. of finance left earlier this year for another opportunity.
The plan rehired its program manager and investment manager following a search from the first quarter due to the firms’ contract expirations.
The deputy director will leave the plan after 11 years.
Plan has to reissued an RFP for private markets consulting and back-office services in anticipation of a September contract expiration with its incumbent.
The new director currently serves as executive v.p. and general manager of global and U.S. large enterprises, global commercial services at American Express.
The plan approved a 3% allocation to Acadian Asset Management at its board meeting on Friday.
Plan added a $15 million private equity commitment at last week’s board meeting.
Two firms will vie for a new private credit mandate.