The retirement system is monitoring its domestic small-cap core equity manager for performance reasons.
The plan also terminated an emerging markets equity manager for performance reasons.
The new structure will result in manager terminations and searches.
The plan approved the search at a board meeting earlier this week.
The position will oversee a nearly $7.5 billion portfolio.
The retirement system has issued separate RFPs for small-cap value and small-cap growth managers.
The plan’s current real assets manager was first hired in 2018.
The search will focus on diversified private debt strategies.
The search is being conducted as part of a normal due diligence process.
The plan approved launching a mid-cap index search for compliance reasons.