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Eric Adler has been appointed as president and ceo of newly formed PGIM Private Alternatives.
The institution approved committing up to $20 million to an existing private equity manager with an additional co-investment with the firm at its investment committee meeting late last month.
The university approved adding a new manager to its endowment to handle a high-yield bond mandate through partial redemptions of two domestic large-cap equity managers.
The firm hired a v.p. and investment consultant from an investment consultant based in New England.
The institution’s Diversity, Equity and Inclusion Report showed that it has nearly 40% of its domestic assets under management invested with minority- and women-owned investment managers.
The university has added five new U.S.-based managers recently, a report found.
The foundation has hired a new cfo to oversee its finances and investments as its current finance head is set to retire at the end of the year.
The trust last conducted a similar search in 2020.
The plan also named finalists in its domestic large-cap value equity manager search.
The fund received commitments from institutional investors, including endowments, family offices, foundations and public and private pension funds.