Domestic Equity
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.
The plan approved the search at a board meeting last month.
The plan’s incumbent manager will see its contract expire this year.
The plan made a change in domestic core bond managers due to underperformance from its incumbent.
The plan terminated an approximately $182 million long-only alpha mandate and made commitments to three existing and one new manager relationship in January.
The institution hired two domestic small-cap equity managers and added two venture capital commitments with existing managers at a meeting late last week.
The new manager will be partially funded by reducing the portfolio of the plan’s incumbent large-cap core manager.
The plan’s incumbent manager is currently on watch for performance reasons.
The plan asked its general investment consultant to prepare a search after an asset allocation discussion at today’s board meeting.
