Equity
The new firm will complement two existing managers within the plan’s international equity portfolio.
The retirement fund also terminated a domestic large-cap value equity manager at a board meeting today.
The university hired a new private equity buyout fund and made re-up commitments to private equity growth and natural resources funds within its endowment during the first quarter.
The plan will vote on hiring a new domestic small-cap value equity manager at its board meeting later this week.
The retirement system also opted against action following an equity structure review last month.
The two managers were placed on watch last quarter for performance reasons.
The plan hired two of five firms interviewed for the mandate last week.
The deferred compensation plan replaced its domestic large-cap value equity manager in the first quarter.
The plan interviewed three domestic small-cap growth equity managers in August for the mandate.
The retirement system also terminated its domestic large-cap growth equity manager in the third quarter.
