Emerging/Diverse Managers
The foundation recently approved an equity investment with a diverse manager within its endowment and mission-aligned investment pool after tracking the firm for years through its investment consultant.
The plan hired Barings to manage two customized funds.
The plan will target eight to 10 emerging buyout funds.
The fund reviewed roughly $1.7 billion in intended private equity and real estate commitments this week.
The oversubscribed fund closes with approximately $1.31 billion of capital commitments, including $162 million of committed co-investment capacity.
The retirement system approved the hire following a search report presentation from its consultant.
The plan is looking for non-emerging, emerging and emerging managers-of-managers.
The search for each retirement plan is due to state statute requirements.
The retirement fund terminated an emerging markets large-cap core equity manager and made commitments totaling $2.7 billion in January.
The firm saw its director of diverse manager equity leave after nearly nine years of service to advance representation across industries.