Domestic Equity
The manager change follows a search presentation from the retirement fund’s consultant last month.
An RFP was issued last February for a total allocation between $90 million and $180 million.
The plan also hired an active domestic large-cap core equity manager at today’s board meeting.
The retirement system approved a private equity fund-of-funds commitment to an existing manager relationship at yesterday’s board meeting.
The plan hired one new manager and retained one incumbent today.
The plan’s existing large-cap growth manager had underperformed.
The pension plan will conduct domestic large-cap and small-cap equity manager searches this year.
The investment committee approved a pair of active large-cap equity managers to replace a factor-based allocation this week.
The university is weighing a revised investment policy statement that includes increasing its targets to domestic and international equities.
The university swapped domestic equity managers within its endowment and liquidity pool while also adding real assets and diversifying strategy investments at a recent investment committee meeting.