University System of New Hampshire, Durham, made two new private equity commitments totaling $11 million for its $566 million combined endowment pool.
The system's finance and investment committee at its Jan. 16 meeting approved commitments of $6 million to venture capital fund Battery Ventures XIII and $5 million to Newbury Equity Partners V, a secondary private equity fund managed by Newbury Partners, recently released minutes show.
The system previously committed $3 million to Battery Ventures XII and $2 million to Battery Ventures XII Side Fund in 2018.
Investment consultant Prime Buchholz assisted.
Separately, the committee at its meeting voted to modify the duties that Prime Buchholz provides to include outsourced chief investment officer services for a trial of one year.
At the end of the period, the committee "will evaluate and determine if the OCIO model is a good fit for USNH and worth the additional cost going forward" and that "it is likely that an RFP will be issued at this point," according to the meeting minutes.
Karen Benincasa, the system's director of finance and treasury and its associate treasurer, could not be reached immediately for further information.