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Private credit manager Brinley Partners has hired Rex Chung as a partner responsible for the firm’s investor relations and capital formation activities.
Fortress Investment Group and Mubadala Investment Company, through its wholly owned asset management subsidiary Mubadala Capital, have completed the acquisition of 90.01% of the equity of Fortress from SoftBank Group Corp.
The search is required by state statute and the incumbent mid-cap core manager is Davenport Asset Management.
The plan launched a search last year to replace its underperforming incumbent.
The plans issued an RFP last month after their outsourced cio was acquired and exited the municipal business.
The city last conducted a similar search in 2019.
The plan’s internal investment team is also expected to join the firm this year.
The community foundation has hired a discretionary advisor to manage its portfolio following an RFP process.
With limited hours in the day, timing is important for allocators to be conscious of when seeking new firms, while emerging managers can benefit from knowing one’s audience, according to a recent webinar.
A portfolio manager overseeing several bond funds and another manager overseeing the global asset manager’s quantitative solutions team are set to retire next year.