Emerging/Diverse Managers
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.
Fund managers are increasingly demonstrating strategic advantages in the long-term success and financial performance that their organizations experience when focused on DEI, while also addressing barriers to progress in the funding of underrepresented women and people of color.
The plan committed $70 million total across three funds in the last several months.
The commitments include a $300 million commitment to a separately managed account focused on private credit emerging managers.
The organization, which is focused on shifting the paradigm of who controls capital, has appointed an advisory board to help achieve its goal of having 33% of assets under management handled by gender-diverse and racially diverse fund management teams by 2033.
