University of Kentucky, Lexington, renewed the contract of Fund Evaluation Group, the non-discretionary investment consultant of the university's $1.6 billion endowment.
The two-year extension of FEG's contract begins June 1 and expires May 30, 2022, recently released Feb. 20 investment committee meeting minutes show.
It is the first of two allowable two-year extensions under FEG's original contract. The university hired the firm in 2015 to replace incumbent consultant RVK, following an RFP process.
The endowment trust's target allocation is: 26% public equities; 20% private equities; 17% real assets; 15% diversifying strategies; 7% high quality/rate sensitive fixed income; 6% hedged long/short equities; 5% private credit; and 4% public credit.
Todd Shipp, chief investment officer, could not be immediately reached for further information.