Domestic Equity
Plan continues working toward executing a transition of assets away from the state fund.
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The plan hired a new domestic small- to mid-cap core equity manager yesterday.
Plan staff is considering searches in small-cap equity and multi-asset credit searches later in 2023.
The plan completed a search to fill its maiden domestic mid-cap growth equity allocation this week.
The plan agreed to conduct two domestic equity manager searches to potentially replace existing mandates with the same firm.
The plan may hire two direct lending managers next month.
The plan swapped domestic small-cap core equity managers last month following a search by its investment consultant last year.
The firm is being monitored due to performance and recent personnel turnover.
The plan will look to fill allocations to private equity, global infrastructure and real estate.