Alternatives
The termination comes after the plan reduced its risk parity allocation as part of a new policy approved in April.
The plan approved the search at a board meeting yesterday for pacing purposes.
The retirement plan interviewed three consultant finalists for its alternatives portfolio.
The retirement system made investments of $100 million each to “fixed-income replacement” and infrastructure funds this week.
The retirement system will issue an RFP for lower middle market buyout funds.
The foundation replaced a domestic small- to mid-cap equity manager after it had underperformed its benchmark since inception and added three private markets commitments in the first half of 2026.
The plan voted to consolidate its global equity portfolio to three managers from four at a board meeting today.
The firm recently closed its fourth private equity fund and second independent sponsor-focused fund after reaching its hard cap with more than $1.1 billion in commitments.
The plan terminated a domestic mid-cap core equity manager due to organizational and performance issues.
The state pension is canvassing the universe for buyout and growth managers raising less than $1 billion in a Fund I, II or III for in-person interviews to be held at the end of July.