Emerging/Diverse Managers
The retirement system approved the hire following a search report presentation from its consultant.
The plan is looking for non-emerging, emerging and emerging managers-of-managers.
The search for each retirement plan is due to state statute requirements.
The retirement fund terminated an emerging markets large-cap core equity manager and made commitments totaling $2.7 billion in January.
The firm saw its director of diverse manager equity leave after nearly nine years of service to advance representation across industries.
The pushback on diversity, equity and inclusion by the federal government, which plans to investigate whether DEI initiatives at several large universities and foundations are illegal, alongside several state governments has left some nonprofit institutions questioning their mission.
The Latina-led venture capital firm recently closed its latest fund after garnering several commitments from foundations, two endowments and a religious institution’s investment team.
The institutional investment industry is celebrating Emerging Managers Week in New York City and staying the course on its commitment to diverse managers that deliver robust returns.
The plan has awarded approximately $1.2 billion across three managers.
The retirement system is seeking one or more managers to handle a mandate expected to range from $200 million up to $400 million.