The $20 million commitment results from an ongoing search in the space.
The plan’s current managers handle aggregate mandates of $25.6 million.
The plan launched a search earlier this year to replace a former manager that was terminated.
The selected firm will assume an $86 million mandate currently handled by an underperforming manager.
The foundation is proposing shifting its $642 million consolidated endowment fund toward private equity, domestic public equity and short-duration fixed-income.
The search is for a manager to handle $50 million with funding coming from the reduction or elimination of its current large-cap value manager.
The plan is looking to diversify its domestic large-cap value equity portfolio.
The endowment conduct in-person interviews with three finalists in its domestic large-cap growth index fund manager search at its board meeting this week.
The pension plan hired a new domestic large-cap growth equity manager and committed to an existing opportunistic real estate manager today.
One of two private credit commitments approved earlier this year has failed in negotiations.
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