Real Assets
The fund will further discuss a potential oil hedging program at a future meeting after receiving an education on the intricacies of oil hedging from an investment manager at this week’s board meeting.
Plan added a pair of infrastructure investments totaling $30 million.
Organization consolidated its real assets portfolio with one new manger through the termination of a real assets and real estate manager.
The board terminated three managers to “harmonize” the equity portfolios between its plans.
The plan last committed to Vision Ridge Partners in 2021.
Napier Park was acquired by First Eagle Investments in March.
The plan will commit up to $3.9 billion to private equity, private credit and real assets.
The university’s managing director for real assets retired on July 1 after more than 18 years at the institution.
Plan introduced private credit and private infrastructure target allocations and hired a domestic mid-cap value equity manager to replace its existing mandate with Wellington Management Company this week.
The fund will consider approving a new strategic asset allocation for its portfolio as well as review the cost and benefits of hedging the fund’s oil and gas revenues as requested earlier this year.