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The first private equity initiative of Ariel Investments will leverage $1.45 billion commitments.
The plan rehired its incumbent private equity consultant last month.
The fund exceeded its $600 million hard cap with commitments from new and existing investors.
The plan’s incumbent manager was first hired in 2004.
The current cio will retire after more than eight years in the role.
The plan has appointed two executive v.p.s to replace employees who will depart in the coming months.
Candidates will be evaluated on firm organization, investment policy development and manager research and performance evaluation, among other considerations.
The university selected its incumbent investment manager over two other finalists in a search launched in the third quarter.
The firm promoted its cio to president and cio at the beginning of the year after more than eight years as investment head.
New cfo will lead the foundation’s financial function and help oversee its investment portfolio after its previous finance head left last summer to start their own business consultancy firm.
