Private Equity
The retirement board also hired a new private equity advisor at its investment committee meeting today.
The retirement fund has disclosed $215 million in recent alternatives commitments.
The fund narrowed a search for emerging markets large-cap ex-China equity managers to two finalists at the end of the second quarter.
The venture capital manager held an initial close for its second fund-of-funds targeting climate-focused technology after garnering investments from nearly 40 investors.
The pension plan made $665 million in total private equity/current return and real estate commitments in the second quarter.
Allocations to illiquid asset classes will provide university portfolios with stronger returns relative to public equity or bond markets over the long term, despite liquidity or spending squeezes in the short term.
The institution temporarily paused making investments in illiquid assets in the first quarter after reviewing its investment policy and guidelines, where concerns about private equity investing and not having an updated five-year strategic plan were made.
The retirement system also concluded its private equity and index manager searches.
The retirement system approved three alternatives commitments at its meeting last week.
The retirement fund disclosed nine commitments totaling $1.2 billion in May.