Private Equity
The retirement system made up to $250 million in private equity commitments among new and existing relationships.
The approved venture capital commitments to two new investment managers within its portfolio at its February board meeting as it finds artificial intelligence is creating opportunities for the next wave of innovations.
The senior investment officer, which was responsible for portfolio construction and manager selection for the institution’s private equity assets, has left to launch his own private equity firm.
Market enthusiasm generated by the rapid development of new artificial intelligence products has may signal innovation and growth in the long term, though some of that enthusiasm may have led the markets to overvalue some public equity stocks or venture funds in the short-term, according to an outsourced cio.
The pension plan made opportunistic real estate and buyout commitments totaling $275.5 million in January.
The plan also approved a $50 million investment with a new manager within its public equity portfolio at its February board meeting.
The retirement plan committed to a fund-of-funds following finalist presentations at last month’s meeting.
Three large foundations have committed to a women- and BIPOC-led private investment manager’s second private equity fund, which held its final close.
The firm closed its first multi-asset continuation fund, which will recapitalize four portfolio companies from its first two strategies, with approximately $325 million in commitments.
The pension plan received a private equity co-investment recommendation today.
