Equity
The deferred compensation plan replaced its international large-cap value equity manager in the fourth quarter due to underperformance.
The plan also made a real estate commitment at today’s board meeting.
The firm had been on watch since the first quarter of 2024.
The retirement system will consider placing its international small-cap core equity manager on watch at Friday’s board meeting.
The retirement system has approximately $159 million allocated to its incumbent managers.
The hire concludes a shortlist search that resulted from a global equity restructuring last month.
An investment management company housed at a university in a Southern state has hired a new managing director to spearhead its public equity portfolio.
The pension plan recently hired three private debt managers as part of an ongoing search.
Three firms were vying for the $30 million mandate.
The plan also funded a new internally managed enhanced index fund.