Venture Capital
The university has increased its targets to private equity and real assets at the expense of global equity and marketable alternatives to improve its portfolio’s return and risk profile.
The college increased its endowment toward private equity and venture capital and increased its long-term ranges to the asset class for a second consecutive year.
The university approved five new commitments totaling $81 million to private equity, venture capital, private credit and hedge fund strategies within its endowment.
The plan liquidated its emerging markets equity fund-of-funds mandate and made $1.3 billion in total commitments in June.
The university will consider adding an early-stage growth strategy with a new investment manager for its portfolio this week.
The plan is seeking one or more firms to provide non-discretionary consulting services for three asset classes.
The university recently committed to a venture capital fund launched by the team behind its startup incubator.
The fund will hold a first reading of proposed changes to its investment policy statement and strategic asset allocation, including increased allocations to fixed-income and hedge funds, at its June 29 board meeting.
The foundation recently made an undisclosed mission-related commitment to a venture strategy focused on biomedical tech start-ups.
The university disclosed follow-on venture capital and private equity commitments made in the first and second quarters of 2023 within its long-term portfolio.