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The pension plan’s cio recently approved two real assets commitments.
The city is seeking firms to provide investment advisory and/or management services.
The plan hired a new core fixed-income manager in March to replace an underperforming core-plus incumbent.
The city has never utilized a firm for the services and the manager will handle a portfolio of roughly $70 million.
The commitment is part of an annual private equity pacing schedule.
The hire represents a homecoming for the plan’s new deputy director.
The search stems from the upcoming Jan. 31 contract expiration of incumbent Empower Retirement.
The fund has added fixed-income, bank loan, international equity and private equity investments to its endowment in recent months as it builds toward a new strategic asset allocation adopted in the first quarter.
The foundation is looking to allocate more of its endowment to diverse-owned managers and impact investments within Native American communities after approving a new strategy in the fourth quarter.
The new actively managed high yield bond exchange-traded fund aims to maximize current income with a secondary goal of capital appreciation and the strategy will invest at least 80% of its net assets in U.S.-dollar-denominated high-yield corporate bonds.