Emerging/Diverse Managers
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.
The retirement fund disclosed commitments totaling roughly $2.1 billion in May.
The investment consultant saw an increase to both client assets with diverse firms as well as client strategies managed by diverse firms in 2023, according to its latest report.
The pension plan funded one of its separate account mandates for the global equity emerging manager program last month.
The plan also approved a new international equity structure and a real estate pacing plan at today’s board meeting.
The pension plan liquidated its approximately $1.9 billion international equity mandate and made commitments totaling $108 million in April.
The search is open to equity or debt-related real estate strategies.