Gregg Gethard
'We actually had our most active year of new investments in 2023,' said co-founder and managing partner Bob Morse.
The $26.2bn system’s cap to alts goes from 15 percent to 25 percent.
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LPs may look to smaller, niche funds as a way to boost returns while diversifying their portfolios.
'Banks are coming back to underwriting big transactions,' the system’s deputy CIO told investment committee members.
This is a steep increase from how much it committed in 2023, and bodes well for managers looking for capital.
Fund VII is a 'combined fund' that allows LPs the option to invest in underlying buyout and growth equity sleeves.
The possible changes would reduce a steady stream of capital to VC and growth equity managers.
Chris Carter, who has been a managing partner at the firm since 2015, heads the company.
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