Domestic Equity
The plan will discuss potential real estate and infrastructure allocations at its August board meeting after opting to redeem from its core real estate manager yesterday.
The plan is looking to invest $5 million each in large-cap growth and large-cap value.
The plan will interview three domestic large-cap growth equity managers at a June 9 investment committee meeting.
The plan authorized a search to replace a terminated domestic large-cap growth equity manager and will issue a private equity consultant RFQ soon.
The plan completed a domestic small- to mid-cap value equity manager search launched in the fourth quarter.
The plan transferred the assets to an existing Standard & Poor’s 500 Index mandate last week.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.
New equity portfolio structure both increases the domestic large-cap allocation and shifts it totally to passive investment.
Decision follows a partial acquisition of the incumbent firm that has left its equity team with $800 million in assets under management.
The plan added a core strategy to diversify its existing domestic large-cap equity portfolio consisting of value and growth managers.
