Core-Plus
The plan is looking for a firm to handle up to $20 million.
The pension plan hired the manager as part of a new domestic equity structure.
The plan will receive recommendations to add managers to its watch list.
The deferred compensation plan will issue a record keeper RFP due to the upcoming contract expiration of its incumbent provider.
The plan deferred its core-plus fixed-income search to its January board meeting.
The retirement system hired two active domestic fixed-income managers and approved a structure for its new private debt portfolio today.
The retirement system will consider hiring two active domestic fixed-income managers and approving a structure for its new private debt portfolio this week.
The hire concludes the pension plan’s search for a core-plus fixed-income manager to handle between $130 million and $150 million.
The searches follow establishment of new sub-asset class targets of 11% to broad fixed-income and 3% to high-yield within its overall fixed-income target earlier this year.
The plan ended a 30-year relationship with a core-plus bond manager after changes from recent meetings reported out of closed session.