Equity
The search will be conducted to replace an incumbent small-cap core manager.
Board will look to add a new emerging markets equity manager within its $187.4 billion Commingled Trust Fund later this month.
The search comes after the plan placed its incumbent manager on watch.
The emerging markets equity manager had been placed on watch for performance reasons over the summer.
The plan is seeking firms without geographic barriers following an asset class restructuring earlier this year.
The pension plan hired a new domestic large-cap growth equity manager last month.
The retirement fund also disclosed commitments totaling roughly $1.7 billion in June.
The plan’s investment committee also approved reallocating assets from a Japan equity portfolio at a meeting yesterday.
The retirement plan recently terminated two underperforming domestic equity managers.
The fund approved conducting a search for a U.S. small-cap value equity manager and an international growth equity manager to replace two existing firms within its portfolio due to a decline in strategy assets.