Daily Feed
The plan is looking to replace its current manager that has “struggled continuously.”
The new additions will lead Wasatch’s new Global Small Cap Value and International Small Cap Value equity strategies.
The firm was rehired based on “superior quality, efficiency and fitness of [their] proposed solution” as well as the cost-effectiveness of their proposal.
The fund makes opportunistic investments in senior loans and real estate securities in the U.S. and Western Europe.
The retirement system made private equity commitments totaling $19 million in January.
The global alternative investment firm expanded its legal credit team with the addition.
The plan also received a private markets pacing plan in January.
The retirement fund will fully redeem its active domestic mid-cap value equity mandate due to underperformance.
The pension plan will be looking to fill a new 4% target to the sub-asset class.
The plan made two commitments in the asset class since its last board meeting.