Domestic Equity
The search is due to performance concerns with the retirement system’s two incumbent large-cap value managers.
The retirement system will split a mandate between two firms following finalist interviews held this week.
The retirement system also disclosed commitments totaling roughly $2.5 billion at the meeting.
The plan interviewed three finalists in closed session at yesterday’s board meeting.
The plan also recently concluded its non-U.S. equity manager searches.
The deferred compensation plan replaced its underperforming domestic small-cap growth equity manager in the first quarter.
The termination stems from personnel turnover at the firm.
The plan is seeking a firm to handle its $511.5 million domestic small-cap value equity option.
The pension system approved minimum qualifications in a search for at least one manager to handle $150 million to $250 million last week.
The retirement system agreed to part ways with an active manager that had been on watch due to lagging performance.
