Real Assets
The plan added commitments with two new hedge fund managers and two existing real estate managers this summer.
The university also made redemptions from domestic and emerging markets equity managers.
The plan approved more than $1.8 billion in commitments at today’s board meeting.
The retirement system also eliminated its target allocation to multi-asset class solutions last month.
The retirement system’s most recent commitments totaled $615 million across four funds.
The retirement system agreed to hire a new discretionary private equity consultant while maintaining the incumbent consultant for discretionary private real return services.
The retirement system made an up to $100 million real assets commitment last week.
The plan also delegated investment authority to its executive director.
Nonprofit investors can find attractive investment opportunities in precious metals like gold, critical minerals like lithium and agriculture that diversify their real assets portfolio, while also providing a potential hedge against ‘stagflation.’
The firm recently held the final close of its private equity strategy that aims to invest in large-scale wetland, stream, water quality, biodiversity and habitat mitigation and restoration projects across the U.S.