Bank Loan
The retirement system will conduct searches for international small-cap equity, high-yield fixed-income and bank loan managers.
The plan hired a pair of bank loan managers to handle roughly 3% of its overall portfolio this week.
The plan conducted interviews with four finalists at a meeting today.
The plan is tentatively scheduled to search for active management in emerging market debt and emerging markets equity next year.
Plan is conducting the search to fill a 3% target to the asset class.
The plan also upped its infrastructure target as part of asset allocation changes approved last quarter.
The proposed portfolio structure would result in searches for core, credit, U.S. Treasury, emerging market debt, securitized products and bank loans.
The plan is seeking global and international small-cap and small- to mid-cap equity managers after approving the RFP last week.
Pension plan expects to review approving a search for international small-cap equity managers next month.
CIO Jonathan Grabel recently rehired the trust’s public markets passive manager and the pension plan made a $270 million private equity commitment this week.