Emerging/Diverse Managers
The plan is seeking domestic mid-cap value equity managers to handle a $25 million mandate and diverse-owned private equity managers for an up to $3 million commitment.
The firm will now manage approximately $40 million in the plan’s main portfolio.
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.