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The plan has terminated an international growth equity fund after placng the manager on watch due to upcoming leadership changes and reinvested the assets with an existing manager in the portfolio.
The firm has hired a senior managing director and head of capital markets to serve on its executive committee and help guide the next phase of strategic growth.
Two of the firms were also charged with failing to report large trader transactions.
The university approved a new investment policy with asset allocation changes for its endowment, including increases to global equity and private equity, and its retirement plan, including an increase to private debt.
The university is seeking a firm to provide investment selection within its 403(b) plan as well as evaluate and monitor the plan’s record keepers.
He will be responsible for developing and executing GEM’s capital markets strategy and liaising with the investor community.
The plan rehired its incumbents after receiving search reports in July.
The firm expanded its Philadelphia multi-family office team with the appointment of a managing director to deepen relationships with private business owners, wealthy families, local endowments, foundations and nonprofit institutions in the region.
The retirement system has terminated one of its global equity managers, which had underperformed.
The plan terminated two in favor of higher conviction managers.