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The fund approved adopting changes to its target asset allocation at its September board meeting as it also made a $100 million infrastructure commitment.

The fund has received a gift from a philanthropist that will be used to support its $1 billion capital campaign and be invested in its pooled endowment to grow member institution portfolios.

The board voted to divest from companies owned or controlled by the Chinese Communist Party on Sept. 24 and expects the action to be completed by early 2026.

The foundation’s next investment head is joining from an investment management and advisory firm.