The USD 867 million endowment plan is in the process of discussing its investment plans for the next 12 months. The endowment will invest through private real estate funds, and is interested in both closed-ended and open-ended vehicles. It will initially invest in the US, but hopes to gain global exposure in the long term. The endowment is interested in core vehicles due to the semi-liquid aspects of these funds and the fact that it is possible to analyze the portfolio and the assets in the fund before making a commitment. The endowment hopes that by allocating to a core open-ended fund first, it will benefit from stable returns and then be able to invest in high-return funds such as opportunistic and value added.
More information on the investment plans of new and existing private equity real estate investors is available on Preqin's online product, Real Estate Online.