Private Equity
The Western-based firm closed its inaugural fund, which invests in early-stage climate tech companies, with approximately $90 million in total commitments, above its $50 million target.
The plan committed $75 million to two existing private equity manager relationships.
The plan expects to further discuss an international developed markets equity manager search at its upcoming board meetings and recently disclosed five private equity commitments.
The plan has “small exposure” to FTX across two of its venture capital managers.
The plan has issued the RFPs after approving the searches last month.
Plan will potentially launch an RFP for an emerging markets equity manager after adding a second firm to diversify its exposure to the space this week.
The plan approved an infrastructure commitment with an existing manager and was informed of two credit commitments at yesterday’s board meeting.
While diversity, equity and inclusion investments garner attention from the broader industry, U.S. venture capital firms have dedicated less than 2% of their assets to DEI investments, a new study finds.
The plan will receive a private equity pacing model in February.
The plan removed a manager structure constraint for its return-seeking fixed-income portfolio and approved a value-add real estate commitment with an existing manager this month.