Private Equity
The plan approved follow-on private equity commitments at a meeting today.
The institution approved committing $10 million to a lower middle market buyout strategy managed by a new firm in late 2022.
The plan made private markets commitments totaling $44.6 million and approved a 2023 pacing plan last month.
The plan hired a convertibles manager within its non-core fixed-income portfolio last quarter.
The plan made commitments to existing relationships, added a new credit manager and approved the hire of a new public markets consultant at its Feb. 16 meeting.
The plan hired an international growth equity manager and committed to two existing private equity managers last month.
The plan has $39 million remaining to be committed to three private equity funds in 2023.
The plan disclosed private equity, tangible assets and real estate commitments with existing managers at its meeting yesterday.
The search will begin in the next three to six months due to the upcoming contract expiration of the incumbent.
The plan authorized two private equity fund-of-funds searches and terminated two managers within its diversified strategies portfolio as the result of a new asset allocation policy.