Equity
The board hired domestic and international all-cap equity managers last quarter.
If approved, the new 20% global core equity allocation would require a search later this year.
The retirement system hired two international equity managers to replace an incumbent that had been on watch since October.
The foundation recently invested in a climate-focused public equity strategy as it looks to achieve net-zero carbon emissions in its portfolio by 2030.
The search is due to personnel turnover at the pension fund’s incumbent fixed-income manager.
The retirement system also approved private equity and real estate commitments totaling $60 million yesterday.
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.
The retirement fund also terminated a global equity manager-of-managers and made commitments totaling $695.6 million in October.
The organization selected the final three managers in its search for debt and equity funds that align with its financial return objectives and impact priorities.
The incumbent domestic small-cap growth equity manager had been on watch due to personnel changes and underperformance.