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University of California endowment doubles private equity in new asset allocation

March 21, 2017

University of California endowment doubles private equity in new asset allocation

March 15, 2017 | by MEAGHAN KILROY | Pensions & Investments 

University of California Board of Regents’ investment subcommittee approved on Tuesday changes to the long-term target asset allocation of its $10.3 billion endowment, which included a significant increase to private equity and reduction to public equity.

The new targets are 25% absolute return (vs. 23% previously), 22.5% private equity (vs. 11.5%), 15.7% public equity (21%), 11% non-U.S. equity (14%) and 3.3% emerging markets equity (7.5%).

Additionally, real assets and real estate will be consolidated into a single portfolio called real assets, with an overall target of 12.5% vs. real estate and real assets’ previous individual targets of 7.5% and 3%, respectively.

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