Equity
The fund will consider closing its investment in an emerging markets index strategy and transferring the proceeds into a new passive vehicle with an existing manager to provide additional flexibility regarding its exposure to China.
The institution approved venture capital commitments to a firm that marks a new relationship and terminated a hedge fund manager for liquidity purposes and being overweight its targets to the strategies.
The plan hired a new international small-cap manager following interviews that included its incumbent.
The terminations were approved amid the plan’s ongoing international equity manager search.
The plan was unable to invest in a previously selected manager.
The plan will receive information on three to four potential managers at a future meeting.
The university will consider gradually eliminating its fossil fuel exposures as well as pivot its target allocation toward illiquid strategies within its endowment this week.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.
The search follows approval of new asset allocation policies, which introduced a 5% target to international small-cap equity for each plan.
The plan approved a consultant recommendation to replace its domestic large-cap growth equity manager last quarter.