The University of California has proposed reweighting the asset allocation of its general endowment pool by slashing its holdings in public equity, while boosting its investment in private equity.<br />
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“We’ve been spending a fair bit of time looking at how we’ve been invested and how we want to be invested,” said Jagdeep Singh Bachher, the chief investment officer of the University of California Regents, at a March 14 Regents Meeting. Bachher said the University of California’s investment in private equity is half that of its peers, while its investment in public equities is double that of it its peers.<br />
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“With more volatility, or market-to-market changes in the public markets, you’ll see more noise in our results, versus the dampening from private assets,” said Bachher.