A publicly funded university in Hong Kong plans to increase its private investments to about 10% of its endowment portfolio, as part of a strategy to diversify from volatility in public markets.

The Hong Kong Baptist University, which has some HK$8 billion ($1 billion) in endowment investments and cash reserves,is looking to build its exposure to alternatives including in private equities and credit, Kevin Liem, the university’s treasurer, said in an interview with Bloomberg News.