Private Equity
The retirement system committed to an existing private equity manager relationship in the second quarter.
The investment board disclosed a domestic small-cap core equity manager termination and private markets commitments totaling $95 million today.
The commitments total more than $700 million.
Institutional and individual investors are continuing to embrace private markets strategies in search of diversification and higher returns amid ongoing market volatility and geopolitical uncertainty, according to a new report.
The oversubscribed fund closed at its hard cap of $600 million in total commitments in less than three months.
The institution approved a financing agreement for an up to 10% stake in a company developing a new retinoid therapy.
The plan totaled nearly $690 million in commitments across its private equity and real assets portfolios last week.
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.