Hedge Funds
The plan’s real estate committee approved four commitments in August and its hedge fund committee terminated an existing mandate in July.
The institution added private equity and event-driven hedge fund strategies within its endowment in the first and second quarters, while also fully redeeming from a hedge fund manager.
The institution approved completely liquidating a domestic large-cap growth equity strategy and an Asian hedge fund strategy last quarter.
The fund expects to receive recommendations to add new multi-strategy hedge fund and international equity managers to its portfolio this month after making a private credit commitment at the end of the third quarter.
The pension plan selected seven absolute return managers for possible inclusion within its investment lineup and tweaked its asset allocation policy last week.
The pension plan received staff recommendations to fully redeem a multi-strategy hedge fund mandate and commit to a global infrastructure strategy today.
The plan is searching for managers to handle more than $850 million.
The pension plan recently committed $275 million total to two funds and terminated existing convertibles and real estate debt strategies.
The system expects to receive a recommendation from its general investment consultant to reinvest funds at a future board meeting after approving the termination of a hedge fund manager last week.
The retirement system made $275 million in new alternatives commitments in recent months.
