Searches And Hires
The plan opted to retain its incumbent investment consultant and 529 industry consultant following searches from the first quarter due to the contract expirations of each firm.
The plan will add six managers to the portfolio over the next six to nine months in a restructuring that will also see staggered terminations.
The investment consultant will advise on a new venture capital program.
The commitments include two new manager relationships.
The hire concludes the plan’s search to replace Allspring Global Investments, which was terminated last year due to underperformance.
The plan committed $134.4 million total to three investment managers last week.
The plan made private markets commitments totaling $15.8 million and appointed an executive director/cio last month.
The foundation is searching for an investment manager to invest its portfolio and develop strategies that align with liquidity, risk and income criteria.
The system approved a private equity commitment to an existing manager within its endowment last month.
The university extended the deadline for proposals in its search for firms to provide investment advisory and management services for its three-tiered operating funds portfolio after launching the search at the beginning of the month.