The plan approved eliminating its global asset allocation target and folding a China equity target into its broader emerging markets equity allocation at its board meeting today.
The international value manager has underperformed its benchmark, prompting discussions of a replacement search for two Florida city plans.
The plan committed a total of $15 million to three secondaries funds at its April board meeting.
The plan approved a new 3% target to infrastructure following an education from its general investment consultant.
The plan will review allocation options in June after receiving educations at its board meeting yesterday.
The plan will look to identify potential diversification opportunities outside core real estate to increase its expected return.
Plan’s first non-core real estate commitment came at a special meeting on Monday.
The consultant will advise the fund and monitor current providers MissionSquare Retirement and Nationwide Retirement Services.
The plan has issued its RFP for minority-, women- and diverse-owned private equity managers to handle up to $50 million.
The plan committed $50 million to a fund focusing on U.S. industrial warehouse opportunities.