Daily Feed
The plan made two private markets commitments following closed session deliberations.
The pension plan terminated a roughly $18 million mandate with an international growth equity manager in the fourth quarter.
The retirement association’s private credit portfolio stood at 6.4% against an 8% target as of Dec. 31.
The city is seeking non-discretionary portfolio management services on behalf of its $1 billion portfolio.
The search is on behalf of the authority’s money purchase pension plan and trust.
The plan will search for active and passive strategies for a total of up to $1.3 billion.
The pension plan will issue the RFP in September as its current contract has exceeded five years.
The fixed-income research head has been with the firm since 2020.
The pension plans received seven submissions in response to a joint RFQ issued in October.
The plan is moving to a new investment consultant after a 15-year tenure with its incumbent, as recommended by staff.