Equity
The pension plan also made a private equity commitment for pacing purposes last month.
The pension plan terminated two domestic equity managers in the second quarter.
The plan’s investment consultant recommended hiring specialized managers for its non-U.S. equity portfolio.
The board also disclosed a private equity commitment at today’s investment committee meeting.
The plan also made two private markets commitments last month.
The plan concluded its global equity manager search with a replacement for one existing firm.
The plan will fund a new passive manager by redeeming an active one within its international equity portfolio.
The retirement system recently replaced its domestic large-cap value equity manager due to underperformance.
The retirement system is seeking strategies across the international equity spectrum.
The retirement system made a manager switch after issuing an RFP in February.
