Emerging/Diverse Managers
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.
The pension fund will interview three finalists at Thursday’s board meeting.
The retirement fund also disclosed approximately $1.6 billion in alternatives commitments made in July.
The plan’s board will hear presentations from four domestic core fixed-income finalists next week.
The pension plan hired a new domestic small- to mid-cap value equity manager and made commitments totaling $980.4 million in June.
The pension plan funded its second separate account mandate for the global equity emerging manager program in June.
The plan will move the assets from the underperforming manager to cash for use in making benefit payments.