Emerging/Diverse Managers
The retirement fund is seeking multiple managers to handle approximately $350 million in assets.
The foundation is aiming to allocate at least 5% of its portfolio to emerging managers, while also looking to add climate-solution investments as it looks achieve a net-zero endowment by 2030.
The plan is seeking a firm to handle a $20 million mandate.
The pension plan liquidated an international equity mandate and made $1.8 billion in total commitments in September.
The firm has hired a managing director to oversee its DEI investment portfolio and HBCU investment strategy.
Expansions will help the systems reach their goal of having 15% of U.S.-based actively managed investment assets with diverse-owned firms by 2025 and 20% by 2029.
The firm has revised its due diligence questions around sustainability and diversity, equity and inclusion.
The plan hired two diverse-owned bond managers to complete a search launched earlier this year.
The consultant believes adding diverse-owned firms is not the only way nonprofits can achieve their DEI-related investment goals, and their consultants should assist them to evaluate several different approaches.
About 42% of the university’s asset managers are diverse-owned as of June 30, a slight downtick from the 44% reported in 2021, but up from the 40% reported in 2020.