Domestic Equity
The plan approved commitments to two existing managers.
The new manager replaced the plan’s incumbent small-cap value manager due to an acquisition.
The plan approved a consultant recommendation to replace its domestic large-cap growth equity manager last quarter.
The plans were slated to receive an ESG manager search book this week and made several changes to their passive equity portfolio last month.
The hire concludes the plan’s search to replace Allspring Global Investments, which was terminated last year due to underperformance.
The plan added $15 million in follow-on commitments across two funds in March.
The plan hired a new active domestic small- to mid-cap value equity manager after its incumbent closed shop.
The plan recently committed approximately $2.2 billion total to nine funds.
The plan rehired its incumbent domestic large-cap value equity manager following finalist interviews at a special board meeting held today.
Plan reviewed a search report that proposed three domestic small- to mid-cap value finalists for its $25 million mandate.