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The deferred compensation plan replaced two equity managers, which had been on watch, yesterday.
The plan hired Albourne as its new strategic investments consultant and brought on Aksia for its private credit portfolio.
The retirement fund will be looking to add an equity long/short strategy to its hedge fund portfolio in the first quarter.
The plan also concluded its emerging markets ex-China equity search at a meeting this week.
The retirement system is seeking additional investment staff due to portfolio increase and complexity.
The new hire will manage the firm’s approximately $25 billion real estate debt portfolio covering roughly 380 assets in the U.S.
The retirement system also disclosed three new alternatives commitments at today’s meeting.
Four total firms will vie for an approximately $521 million mandate.
Managers are launching new open-end real assets funds as competition is increasing in most strategy types and firms that offer more investor-friendly fees and terms can be more competitive in searches, according to a new study.
The investment manager will serve as a generalist and source, underwrite, close and monitor investments across asset classes.