Neuberger Berman has closed its third specialty finance fund with over $1.6 billion.
The firm will provide an analysis of investment assumptions, asset allocation strategy, management structure and performance results to the board in June.
Potential changes to the asset allocation could include eliminating the plan’s TIPS target in favor of other asset classes.
The plan has been expected to launch an RFP for a general investment consultant due to the upcoming contract expiration of its incumbent.
The new additions will lead Wasatch’s new Global Small Cap Value and International Small Cap Value equity strategies.
The firm was rehired based on “superior quality, efficiency and fitness of [their] proposed solution” as well as the cost-effectiveness of their proposal.
The plan made two commitments in the asset class since its last board meeting.
The search is due to the upcoming contract expiration of its incumbent.
The search was recommended to explore the space for a new core fixed-income manager.