High-Yield
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.
The plan has lined up 2026 searches for real assets, real estate and private credit managers.
The pension plan also made a follow-on infrastructure commitment.
The university also liquidated fixed-income and equity strategies to fund endowment spending and university advancement payouts.
The plan tapped public market credit consultant Mercer earlier this year to conduct the searches.
The pension plan also made credit and infrastructure commitments totaling $130 million last month.
The plan reviewed proposed allocation mixes that add a dedicated high-yield bond target while significantly increasing intermediate grade core-plus fixed-income, both of which would result in searches for new managers.
The deferred compensation plan is looking to create a bench of qualified investment managers.
The foundation added international equity, domestic equity, high-yield bond and infrastructure investments to its portfolio during the second quarter.
The fund is looking to fill four mandates for a total of $1 billion.