Domestic Equity
The plan placed one manager on formal watch and terminated another.
The plan terminated a domestic mid-cap core equity manager due to organizational and performance issues.
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.
