Private Equity
The plan approved the search at a board meeting yesterday for pacing purposes.
The retirement system will issue an RFP for lower middle market buyout funds.
The state agency is seeking a firm to provide consulting and advisory services for its venture fund targeting small businesses or entrepreneurs across the state.
The firm recently closed its fourth private equity fund and second independent sponsor-focused fund after reaching its hard cap with more than $1.1 billion in commitments.
The plan terminated a domestic mid-cap core equity manager due to organizational and performance issues.
The state pension is canvassing the universe for buyout and growth managers raising less than $1 billion in a Fund I, II or III for in-person interviews to be held at the end of July.
The plan disclosed recent activities from its investment committee meeting this month.
The pension fund’s board approved up to $550 million across two commitments at a meeting today.
The university approved four private equity commitments, including one with a new manager, as well as a private real assets commitment at its June investment committee meeting.
The university added new private equity and venture capital managers within its endowment earlier this year on the heels of new commitments to existing managers.
