Equity
The foundation added international equity, domestic equity, high-yield bond and infrastructure investments to its portfolio during the second quarter.
The foundation increased its large cap growth equity fund’s allocation to an incumbent manager that utilizes a research-based investment process in quality growth companies.
The plan will move at least a portion of its roughly $57.4 million domestic small-cap core equity mandate to a passive option while it considers the role of the asset class as part of a broader public equity review.
The search was first discussed at the plan’s May board meeting.
The plan is looking to invest $200 million with multiple investment managers.
The retirement system moved away from its active domestic large-cap growth equity manager.
A New York-based growth equity firm’s second fund has garnered a slew of new investors including university endowments.
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.