Private Equity
A university based in a Southern state has added two alternative investments to its approximately $2.3 billion portfolio.
The plan also lost its executive director to a neighboring retirement fund.
The commitments made earlier this month include a first-time manager for the plan.
The retirement system added $350 million in alternatives commitments in the first quarter.
The plan added the firm to complement its existing domestic small- to mid-cap core equity manager.
The fund was oversubscribed and surpassed its fundraising target.
The overall slowdown in private markets commitments did not stop two Black-owned firms from closing funds as early-stage venture capital firms Collab Capital and Zeal Capital Partners recently announced closes for their respective second funds.
The pension plan recently hired three private debt managers as part of an ongoing search.
The plan also funded a new internally managed enhanced index fund.