Blackstone Alternative Credit Advisors LP

The mission of the University of Massachusetts Foundation, Inc. is to "foster and promote the growth, progress and general welfare of the University of Massachusetts" as stated in the original 1950 Articles of Organization. The Foundation is a Massachusetts Chapter 180 private, not-for-profit corporation which is exempt from federal taxes under section 501(c)(3) of the Internal Revenue Code. Serving the five campuses of the University, the Foundation is overseen by a Board of Directors. Foundation Objectives To provide a depository for charitable contributions which will benefit the University and which segregates these private funds from public funds; To manage and allocate the assets of the Foundation in a prudent manner through policies which foster stability and growth of its resources; To be available for University use as a vehicle to allow for flexibility, efficiency and economy in financing projects and research; To foster a long-term perspective on the needs of the University; To promote private support of public higher education; and To support University development efforts

STRS Ohio pension fund assets are allocated to short-term liquidity reserves (commercial paper, short-term investment funds and repurchase agreements), fixed-income securities (US Government and US Government Agency obligations, corporate bonds, high yield/emerging market and MBS/ABS), domestic common and preferred stock, international equities, real estate (US properties and REITs),and alternative investments (private equity and opportunistic/diversified investments). These associates oversee diversified portfolios of equity (common and preferred stock), fixed-income, international, real estate investments and alternative. The mix of investments is designed to provide high, long-term yields while minimizing exposure to risk.

OP&F uses an asset allocation strategy in which a risk parity approach adopted allows a portion of the portfolio to be conservatively leveraged. Their objective is to reduce the total expected risk of the portfolio without sacrificing the expected return. This approach balances the fund's exposure among investment classes that perform differently in various economic and market environments. OP&F invests in US equities, non-US equities, fixed-income, global inflation protected securities, high yield bonds, real estate, private markets and cash.