Commodities
The retirement systems also eliminated global low volatility and TIPS allocations earlier this year.
The pension plan’s outsourced cio liquidated 17 investment strategies and transitioned the assets to five CITs in the second quarter.
The pension system will hear recommendations to add infrastructure and drop commodities, among other changes, at this week’s board meeting.
The retirement association is considering the two asset classes to replace its commodities portfolio.
The plan also hired an international small-cap equity manager after finalist interviews.
The commitments include a new manager relationship for the plan.
The search will not include the plan’s two incumbent firms.
The plan replaced a commodities manager and added a global real estate manager to its watch list in the third quarter.
The London-based firm has closed its oversubscribed third fund, which invests in mining and energy transition metals, at its hard cap, marking the largest fundraise in the firm’s fund series.
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.