Equity
One of three portfolio managers on the international equity team departed.
The plan’s investment subcommittee will consider domestic mid-cap value and emerging markets equity replacement options at an upcoming meeting.
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.