Emerging/Diverse Managers
The plan hired two separate account managers for its global equity emerging manager program after increasing the program’s allocation range this week.
The plan increased the allocation range for its global equity emerging manager program by 5% this week.
The plan is slated to conclude its global equity emerging manager program search and increase its allocation to the program at a board of investments meeting tomorrow.
The plan terminated a $1.4 billion domestic large-cap value equity mandate and made commitments with four existing managers and one new manager in August.
The institution has released its third annual Diversified Returns report and found that the number of substantially diverse firms surveyed declined, while the number of majority diverse firms remained static year-over-year.
Shundrawn Thomas will lead a firm providing credit and other financial solutions to lower middle market companies.
The plan is seeking small, local managers to receive an initial investment of up to $5 million.
Program had underperformed its custom benchmark net-of-fees since inception.
The plan, which launched an investment advisor search earlier this year, extended services with its incumbent on a month-to-month basis.
The plan hired two firms that will target emerging and diverse private equity, real estate and private credit managers.