Emerging/Diverse Managers
The decision comes after the plan had initially decided to go ahead with a search for emerging managers-of-managers last month.
The retirement fund disclosed commitments totaling $4.5 billion in September.
The firm was part of the plan’s local emerging manager composite.
The retirement system will conduct a full search for emerging managers-of-managers after reviewing a consultant presentation on available options at today’s meeting.
The plan hired an emerging manager consultant this summer.
The retiree health care trust is searching for diverse index fund providers.
The foundation approved investments with two Black-led strategies as it looks to achieve its goal of allocating half of its portfolio to diverse-owned managers by the end of 2025.
The retirement fund made commitments totaling $2.7 billion in August.
The plan also added several new equity managers to the program.
The plan was notified of a manager termination as well as two redemptions at its Sept. 11 board of investments meeting.