The retirement system also canceled its general investment consultant RFP and approved a 2025 private markets pacing plan in January.
The retirement system is seeking active global all-cap, large-cap, mid-cap and small-cap equity managers.
The board has hired two domestic equity managers to replace existing managers across its three investment plans.
The manager hire concludes a domestic all-cap equity index manager search, which the program launched in March.
The retirement system will conduct a full search for emerging managers-of-managers after reviewing a consultant presentation on available options at today’s meeting.
The search is being conducted to diversify the program’s investment lineup.
The pension plan hired an all-cap core equity manager to handle two mandates within its international equity portfolio yesterday.
The plan replaced its domestic all-cap equity manager, which had been on watch since April 2022 due to underperformance.
The pension plan shifted its emerging manager program to a U.S. small-cap equity mandate to increase its chances of achieving excess returns.
The pension plan’s current manager was hired in 2016.