Domestic Equity
The retirement system also replaced two underperforming equity managers in the second quarter.
The retirement system is seeking a replacement for a recently terminated domestic equity manager.
The university revised the asset allocation for its long-term investment pool, increasing its allocation to domestic and private equity, as part of a new investment policy statement approved at its September board meeting.
The fund opted to replace its mid-cap growth investment due to underperformance.
The fund anticipates awarding five contracts in the search.
The plan is looking to invest up to $35 million across the two strategies.
The retirement system approved issuing the RFPs last month due to standard state procurement laws.
The retirement plan will seek board approval to add two domestic equity managers on watch next week.
The pension plan approved asset allocation changes within its domestic equity, real estate and private markets portfolios yesterday.
The program will also invite its domestic mid-cap growth equity manager to present at a future board meeting with the intent of placing the firm on watch due to underperformance.