Real Estate
The plan has begun searches for international equity and core and non-core real estate managers.
The plan anticipates committing up to $565 million total to the two asset classes this year.
The university will invest an additional $500 million in the REIT on March 1 and the investment will have the same structure, terms and fees as the initial investment.
The plan will look to commit $100 million to private equity and $60 million to real estate this year.
The plan will look to add private credit, re-establish its private equity portfolio, add complementary real estate strategies and evaluate its domestic equity portfolio this year.
As nonprofit investors expect market volatility to continue, with the possibility of an economic recession on the horizon, many are seeking early-stage private equity, private debt, real estate, infrastructure or hedge fund strategies to capitalize on macro trends that include a slowdown in economic growth, rising inflation, emerging technologies and demographic trends.
The value-add real estate manager has promoted an asset manager to v.p. of asset management to oversee its asset management team and take over responsibility for risk management.
The plan made natural resources and real estate commitments last month and will consider a 2023 private markets pacing plan this week.
The watch status is due to a co-portfolio manager’s abrupt departure from the firm.
Firm’s new global head of real estate will lead the growth of its Canadian and U.K. real estate platforms in key markets.